Indian Journal of Science and Technology

Abstract

Objectives: We explored several factors that could trigger domestic new drug development and incorporated them into a predictive model of an innovation policy. Method: We systematically searched the relevant literature and briefly reviewed the varying concept of innovation policy for stimulating drug development. Findings: New drug development involves the creation of an innovative drug that is not yet available in the country. Several factors that encourage domestic innovation were identified through push and pull mechanism strategies. Those predictive factors, which were grouped into two major categories (regulation and incentives), were then used to predict a model of an innovation policy. Improvement: Minimizing uncertainties in drug development by strengthening regulatory and incentive mechanisms are major catalysts that encourage pharmaceutical companies to invest more in drug development. 

Keywords: Drug Development, Innovation Environment, Innovation Policy Models