| Topic : Commercial law |
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Business and Law
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Activity:
1 comments
443 views
last activity : 07 06 2010 20:18:04 +0000
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Indian phrmaceutical companies are on the boom and enjoying high degree of profitability, the reason being that Indian consumers are being more and more health concious.
The drugs manufactured by Indian Pharmaceuticals vary greatly in cost and composition. But the issue that I am here going to discuss with you is about the producton of "low cost generic drugs". Generic Drugs as we all know are the drugs which are produced and distributed without patent protection, and you all must be aware that India is still allowed to make generic drugs after severe seminal challeneges to patent laws filed by the leading Swiss Drug Company Novartis, arguing that it will discourage investments in innovation and would undermine efforts by drug companies to improve their products.
Now question arises, should India be allowed to manufacture the generic drugs or not?
Answering this question needs to undersand what actually happened, and relax, I will give you detailed explanation of this. Actually Novartis raised issue about granting patents for incremental developments and the court had no jurisdiction over whether Indian patent laws complied with the World Trade Organization guidelines on intellectual property law, and now both are scrutinizing the progress of this long-running case as they are aware aware that the judgment would have profound implications for their work.
Will such inadequacies in Indian Patent Law result in negative consequences for patients and public health in India?
I personally feel that such medical progress occurs through incremental innovation and the inavaliability of patents will deprive patients from new and better medicines.
I recommend the patents in Indian Pharnaceutical Industry and believe that it is a matter of concern for and this challenging issue raised by Novartis will reduce would hinder Indian Pharma from producing low cost and patent free drugs.
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Indian phrmaceutical companies are on the boom and enjoying high degree of profitability, the reason being that Indian consumers are being more and more health concious. The drugs manufactured by Indian Pharmaceuticals vary greatly in cost and... |
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