IPR in Pharmaceuticals Balancing Innovation & Access

 Indian pharmaceutical industry is a prominent

industry in terms of production, consumption and

exports of pharmaceutical products. Following the

enforcement of Indian Patents (Amendment) Act,

2005, the country has been generating high

revenues globally, and is currently the world’s third

largest pharmaceuticals market, in terms of

volume sales. The Act has also encouraged

innovator multinational companies to sell their

products in India, without worrying about a lowpriced

copycat version, due to product patent

protection. Further, with reduction in the approval

time for set up of new pharmaceutical companies,

the Indian pharmaceuticals market is expected to

soar high over the next five years.

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