Abstract

INTELLECTUAL PROPERTY RIGHTS OF PHARMACEUTICAL INDUSTRY IN INDIA

Swapnil S. Kasture*, Saurabh S. Mane, Pooja Y. Suryawanshi, Mukund R. Mali1, Anil A. Danane and Dr. M. S. Kondawar

ABSTRACT

Patents are a type of intellectual property right that grants the inventor exclusive rights to an innovation. Subject to a few exceptions, the owner of a patent has the right to prevent others from creating, using, or selling the new innovation for a short time. The patent system is the most effective method for stimulating pharmaceutical R&D. The use of patents to protect pharmaceutical items and methods has become the norm around the world. The pharmaceutical patent is critical to the growth of research and the disclosure system. In the post-trade-related features of intellectual property rights time, India's pharmaceutical industry has been booming. In terms of volume, the Indian pharmaceuticals market is believed to be the world's third largest, and one of the largest in terms of value created (Economics Division, 2017). This industry is also a key player not just within India but also across the globe; the Indian pharmaceutical companies produce bulk drugs that are exported to several countries, including the Organisation for Economic Co-operation and Development (OECD) nations. This paper undertakes a review of available studies to provide a perspective on the role of intellectual property rights (IPR) in Pharmaceutical industries across India.

Keywords: Intellectual property, Patent, Copyrights, Trademark.