INTELLECTUAL PROPERTY RIGHTS AND ITS APPLICATION TOWARDS PHARMACEUTICAL INDUSTRY WITH SPECIAL REFERENCE IN INDIA

Abstract-:A patent has to describe the key elements of an innovation. Patents provide the patent owner with the legal means to prevent others from making, using, or selling the new invention for a limited period of time, subject to a number of exceptions. The patent system is the best mechanism for encouraging pharmaceutical R&D. Patent protection for both pharmaceutical products and processes has become the global norm, significant differences exist across national legal frameworks for the protection of pharmaceutical intellectual property. Pharmaceutical patents essential for the advancement of research, as a disclosure system, the patent can, and often does, stimulate other firms or individuals to invent the existing patents to provide for parallel technical developments or meet similar market needs. The Indian pharmaceutical industry has been growing in the post-TRIPS period. On the other hand, there are still concerns that the new patent act might reduce generic drug supplies and lower access to medicines in India. Since India is the major supplier of affordable generic drugs, the issue of access to medicines is crucial not only for India but also for other poor developing countries. Thus, the Indian Government should seek an appropriate balance between the development of the Indian pharmaceutical industry and the improvement of public health. The aim of this article is to gathering some information from various sources and provide the fundamental knowledge of pharmaceutical patenting to the public and pharmaceutical professionals towards the patent in pharmaceutical.Key words: pharmaceutical intellectual property, generic drugs, public healthÂ