LOCAL MEDICINE PRODUCTION

Local Medicine Production

Local Production of Medicines

Introduction

The main objective and purpose of any business is to earn a profit and to operate the business in a lucrative way. No matter what the industry is in which the business operates, the most important and quintessence of the operation of every industry remain the profit. There are few fields and industries that also take into consideration wellness and benefits of people. These two factors that can be the core part of a business are present in an industry. This industry is of medicine and healthcare. One of the issues that face a lot of question marks and confusion is related to the production. The production of medicines is a controversial and debatable aspect of the pharmaceutical industry. The purpose of this paper is to talk about the local production of the medicines. According to Kaplan and Laing there are few countries that prefer not to produce medicines locally because it does not make any economic sense (Laing, 2003, pp. 67). The aim of this paper is to comment on this statement of Kaplan and Laing. The following part of the essay discuses this statement from variegated facets.

Background about the Local Production of Medicine

No matter what the industry is there are few elements that the manufacturer always takes into consideration. Regarding the production one of the most crucial decisions that the manufacturers make is related to make or buy. There are a number of factors that influence this decision of the manufacturers. There may be the possibility that the quality with which the product is manufactures is not up to the mark, there is the possibility that there is a requirement to maintain the secrecy of the design and processes involved in the production process, there can be possibilities of unreliability of the suppliers who provide raw materials for the manufacture of the product and there may be the possibility that there is a requirement to not to rely on imports and maintain the flow of the foreign exchange. Similarly, in the field of medicine, these few factors get considered. For example, a manufacturer may prefer to manufacture or buy the medicines because of the challenge posed by the fact of production of medicines for the export purposes, may be the manufacturer wants to be self sufficient in medicine. A manufacturer may prefer to buy the medicines instead of producing them locally because the standards set for the medicine production in the health policy cannot be met locally. On the other hand, a manufacturer may prefer to produce the medicines in order to lower down the process of the medicines and to produce more traditional medicines (Malek, 1999, pp. 53).

Local Production of Medicines and Different Countries

The following part of the paper discusses the prevalence and state of the production of medicine locally in different countries.

India

The pharmaceutical industry of India is a very developed industry. The industry of pharmaceutical is comprised of few of the large pharmaceutical companies and few small scale ...