...says Atulya Nath, CEO, Global Institute of Intellectual Property (GSIP). He discusses importance of patents and policy framework in the life sciences vertical, which is favoured towards domestic companies.
What is the importance of Intellectual Property (IP) in pharma and healthcare?
IP protection boosts innovation. It goes without saying that a strong enforceable IP regime fosters research and encourages inventors to produce technology, which is both beneficial to the society at large and has commercial value for the innovator. With the coming-in of the TRIPS compliant product patent regime in India, effective 2005, India has come a long way in the field of establishing a patent system, which can boast to be at par with the rest of the world. IP protection for the pharma and healthcare sector in India assumes a great significance, since apart from the considerable size of our generic industry, innovator companies are also more...