This paper demonstrates that radical regulatory changes can be
tantamount to technological revolutions by studying Indian
pharmaceutical firms. It shows that radical regulatory changes such as
the Indian Patent Act of 1970, the New Industrial Policy of 1991 and the
signing of TRIPS (Trade Related Intellectual Property Rights System) in
1995 served to open up new economic opportunities and constraints in the
wake of which the winners and losers were selected as a function of the
dynamic firm capabilities most appropriate for the new market
Key words: International marketing, R&D management, Indian pharmaceutical sector, corporate strategy.
Jel Codes: L1, L2, L5, L6, O3 and O5.
UNU-MERIT Working Papers ISSN 1871-9872