 "Introduce data protection as an IPR: Study")
With a view to benefit and drive the growth of pharmaceutical research and innovation in India, the Assocham-TechSci Research study has recommended introduction of data protection as an intellectual property right (IPR). The study, titled ‘IPR in pharmaceuticals: Balancing, innovation and access’, has also suggested for digitisation of IPR for pharmaceuticals in India to strengthen online processing and maintenance of information database thereby making the process more systematic and convenient.
Though it would require allocation of more personnel for patent examinations and training sessions to be organised as part of resource development module, the study has emphasised that efficient management of IPR filings would help in building a stronger IPR framework in India.
“Pharmaceutical market in India is being driven by rapid socio-economic changes, rising sedentary lifestyle amid people and expected growth in number of people suffering from obesity, diabetes, cardiac problems and other related ailments. India’s pharmaceutical industry has transformed from being mainly a generic manufacturer to providing complex drug formulations to foreign markets thereby registering a significant growth,” commented D S Rawat, secretary general of Assocham.
ALSO READ: Regulatory issues, exchange rate crisis hurting pharma exports: Study
As per the Assocham-TechSci study, export of pharmaceutical products from India is likely to cross $14 billion mark this year and may reach about $20 billion by 2020, thereby registering a compounded annual growth rate (CAGR) of about eight per cent. However, growth in pharmaceutical products’ exports from India is likely to decline by almost half ie from the level of CAGR of about 15 per cent clocked during 2010-14 to about eight per cent during 2015-2020 on account of delay in regulatory approvals in top markets of the US, Russia, Africa and others.
Though it would require allocation of more personnel for patent examinations and training sessions to be organised as part of resource development module, the study has emphasised that efficient management of IPR filings would help in building a stronger IPR framework in India.
“Pharmaceutical market in India is being driven by rapid socio-economic changes, rising sedentary lifestyle amid people and expected growth in number of people suffering from obesity, diabetes, cardiac problems and other related ailments. India’s pharmaceutical industry has transformed from being mainly a generic manufacturer to providing complex drug formulations to foreign markets thereby registering a significant growth,” commented D S Rawat, secretary general of Assocham.
ALSO READ: Regulatory issues, exchange rate crisis hurting pharma exports: Study
As per the Assocham-TechSci study, export of pharmaceutical products from India is likely to cross $14 billion mark this year and may reach about $20 billion by 2020, thereby registering a compounded annual growth rate (CAGR) of about eight per cent. However, growth in pharmaceutical products’ exports from India is likely to decline by almost half ie from the level of CAGR of about 15 per cent clocked during 2010-14 to about eight per cent during 2015-2020 on account of delay in regulatory approvals in top markets of the US, Russia, Africa and others.
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