One thing is clear, though: Emerging markets are not the gold mine that optimistic pharmaceutical executives have been making them out to be.India's move casts significant doubt on the companies' predictions that within a few years, emerging markets will generate one-quarter or even one-third of their global revenue. They've been counting on governments and a rising middle class in emerging markets to spend more on their brand-name medicines rather than the locally made drugs that may be counterfeit.
India's Rejection Of Drug Patent Could Reverberate
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