A Review on the Indian Patent System and Its Implication on the Pharmaceutical Industry

Abstract

A patent is the main design of Intellectual Property Rights employed in the pharmaceutical industry. Claims of patents in India are imposed under the Patents Act of 1970. The goal of patent authorization is to inspire and progress in the industry and associated modern technologies. Intellectual property rights can help grow the economy due to their industrial applicability in regard to businesses within the country as well as exports. The Indian pharmaceutical industry, is a distinctly uneven one, is influenced by others and there were difficulties in regards to intellectual property rights in the context of the world trade organization.This review illustrates a brief outline of patent law in India due to the significance of Trade-Related Aspects of Intellectual Property Rights (TRIPS) contracts and the benefits of patentability as well as different types of pharmaceutical patents are described accordingly. Other appropriate necessities linked with patenting of pharmaceuticals like, pre and post-trade related aspects of Intellectual Property Rights, compulsory licensing etc. are also explained. The objective of this paper is to study the patent act of the pharmaceutical industry and several patents granted in India in the pharmaceutical industry, aiming to provide information in the context of pharmaceutical patenting.