Opportunities for Patents in Pharmaceutical Industry: An empirical study Drug Developers’ Opinion

Authors

  • NIDHI DOBHAL Assistant Professor,Department of Pharmacy , Graphic Era Hill University, Dehradun Uttarakhand India 248002 Author

DOI:

https://doi.org/10.61841/pnhtb837

Keywords:

Pharmaceuticals, Research and development, Patents, Intellectual property, Innovation

Abstract

 Industries devote huge sums of money and resources in research and development to bring new medications to market in the fiercely competitive pharmaceutical sector. The price of creating new pharmaceuticals is significant, and it can take a while for them to reach the market. Patents give pharmaceutical companies a temporary legal monopoly on their product, which encourages innovation by enabling them to recoup their costs and turn a profit.In the pharmaceutical sector, there is a huge potential for patents, and businesses are constantly looking for innovative strategies to safeguard their inventions. Patents give drug developers an advantage over rivals in the market in addition to safeguarding their intellectual property. A business that has a substantial patent portfolio can stop rivals from entering the market and stealing market share. A strong patent portfolio can also draw investors and business partners because it shows a company's dedication to innovation and capability to safeguard its intellectual property. People from Pharmaceutical industry are considered in this research work, and it is found that Patents give pharmaceutical firm a legal monopoly on temporary basis on their product, Patents give medicine developers a competitive edge in the market, Patents has given Indian pharmaceutical firms the chance to be more creative and develop novel medications 

Downloads

Download data is not yet available.

References

Chadda, A. (2006). Destination India - The Right Choice for the Pharmaceutical Industry.

Delhi Business Review, 7(1), 1-8.

• Chaturvedi, K., & Chataway, J. (2006). Innovation In The Post-Trips Regime In Indian

Pharmaceutical Firms: Implications For Pharmaceutical Innovation Model. International

Journal of Business Innovation and Research, 1(1-2), 27-50.

• Gupta, D. B. (2007). Exciting Opportunities for the Indian Pharmaceutical Industry. Indian

Chemical Engineer, 49(2), 154-157.

• Duggal, R. (2005). Patents in the Indian pharmaceutical industry: An analysis of recent

developments. International Journal of Biotechnology, 7(2-3), 146-162

• Mahajan, R. (2002). The Indian pharmaceutical industry and patents: The future is here.

Journal of Intellectual Property Rights, 7(1), 12-19.

• Ramanan, S. V., & Narayanan, D. (2004). Intellectual property rights and the Indian

pharmaceutical industry: Changing dynamics. Indian Journal of Pharmaceutical Sciences,

66(2), 135-142.

• Lalitha, N. (2003). The impact of patents on the Indian pharmaceutical industry: A review.

Journal of Intellectual Property Rights, 8(4), 269-277.

• Kesselheim, A. S. (2007). Intellectual property policy in the pharmaceutical sciences: the

effect of inappropriate patents and market exclusivity extensions on the health care system.

AAPS J, 9(3), E306.

• Pammolli, F., Magazzini, L., & Riccaboni, M. (2011). The productivity crisis in

pharmaceutical R&D. Nat Rev Drug Discov, 10(6), 428.

• Kshirsagar, N. A. (2004). Pharmaceutical industry and patent regime in India. Indian

Journal of Medical Ethics, 1(4), 4-6.

• Singh, S., & Mishra, S. (2006). Patents in the Indian pharmaceutical industry: Challenges

and opportunities. International Journal of Pharmaceutical Sciences Research, 1(3), 218-

229.

• Mukherjee, S. (2007). Patents in the Indian pharmaceutical industry: A strategic

perspective. Indian Journal of Pharmaceutical Education and Research, 41(2), 112-119.

Downloads

Published

28.02.2021

How to Cite

Opportunities for Patents in Pharmaceutical Industry: An empirical study Drug Developers’ Opinion. (2021). International Journal of Psychosocial Rehabilitation, 25(1), 723-730. https://doi.org/10.61841/pnhtb837