One of the major influencers in the Indian Patent context has
been the TRIPs agreement. TRIPs stand for Trade Related Aspects of
Intellectual Property. India entered into the TRIPs agreement back
in 1995 but it has been in effect since the 2005 amendment of the
Indian Patent Act 1970. India started off offering protection of
process patents. Though the patent filing activity in India is very
less, it still allowed companies to file for process related
patents, particularly the pharmaceutical sector. Since its
enactment, the Indian patent system has now re-instated the product
patent regime and now abandoning the process patents.
One of the main sectors to have benefited from this enactment is
the pharmaceutical sector. The Indian pharmaceutical sector is the
third largest in the world with a you turnover of over $ 20
billion. Most of the revenues have been realized is through the
generic drug market. The generic drugs are the reverse engineered
and cost effective derivatives made from the original drugs that
underwent extensive research and development and which were
expensive. The generic drug market was easily captured due to low
cost of production these drugs and similar efficacy. The Indian
pharma companies have successfully broken many of the product
patents through reverse engineering.
Seeing the overall turn out of the events, we find that:
The Indian pharma companies have successfully discovered new
markets of these drugs in the developing nations and third world
The TRIPs agreement broadened the scope for obtaining patents
by including many of the fields, the inventions from which were
earlier considered non-patentable
Market share of these companies has improved compared to major
multi-nationals present in India
On the flipside, a major disadvantage that could be felt here is
the reduced investments from these companies into active R&D.
Though, in recent times, the large profit volumes and increased
competitiveness have been pushing many companies for investments in
the research side but a lot of ground still needs to be
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