The Indian pharmaceutical industry’s exports began to exceed its imports in the late 1980s. Since then, exports have grown rapidly, and the leading Indian firms have become significant exporters of generic drugs to the most advanced markets, including the U.S. As the Indian pharmaceutical...

How do private returns to inventive activity change when IPR regimes are substantially strengthened? Our paper investigates this question by looking at the impact of patent reforms in India on India-based pharmaceutical companies. In a fundamental policy shift, India agreed to introduce product...