Marketing Innovation in Indian Pharmaceutical Industry

New opportunities and newmarkets are brought about by the changing global environment brings about for domestic firms in developing countries. In the Indian pharmaceutical industry, the impacts of globalization and IPR protection on the innovation are examined, with the help of the firm-level panel data. According to this study, a positive and highly significant level of foreign ownership effect can be found on R&D activities, indicating technology spillover in the Indian pharmaceutical industry. Insignificant effects on R&D innovation are due to TRIPS implementation. In addition, exporting firms and firms with a higher productivity level are significantly more likely to carry out R&D activities.