“Though India revised its Intellectual Property law, it still needs serious relook to encourage business and Research and Development in India.” Comment.
- Strong IP Regime -> innovation, research and development, development of new drugs for our patients, access to transfer of technology (Climate change)
- 2010-2020 - India Decade of Innovation
- India has often been accused of being a weak protector of intellectual property rights
- India ahs fully complied with WTO-based TRIPS regime by changing its patent law in 2005 and enacting new one
- Singnificant feature -> curtailing "evergreening" - to prevent drug companies from getting monopoly protection on updated drugs
- India has only invalidated those patents undeserving of protection under India’s stringent statutory standards
- This "Inventability criteria" as shown by the Supreme Court decision on Glivec case
- Compulsory licensing (CL) and weak enforcement however pose problems. CL was meant to be issued only in emergency situations such as an epidemic but as IPAB’s recent decision to grant CL on Bayer’s Nexavar drug shows, CL is also being issued on grounds of affordability