Indian pharmaceutical sector needs decentralised development unlike the present haphazard growth, opined a panel of experts in Intellectual Property Rights (IPR). According to them the post 2005 patents era needs to be looked upon as phase of opportunities. The pharma sector should tap the potential and garner maximum from the given situation. Therefore Indian pharma sector must look at product patents and derive value from it. With a substantial increase in government funding for research the industry and institutes must team up to capitalise the advantage, they opined.
Dr. Anand Chakraborty, representing University of Illinois, US stated that Indian pharma sector must not be hassled about the patent regime and fret over the issue that it would be end of generic manufacture. Instead the product patent opportunity which is now thrown open to them needs to be encashed.
The pharmaceutical sector in the country must learn lessons from the success of the information technology sector. Efforts to innovate are vital and this innovation should be translated into potential products after assessing the market value.
Dr. Chakraborty called upon young pharmacy post graduates to look at the option of start- ups as the patent regime would spur success in product innovation.
Making an assessment on the Indian pharma scenario, Dr. Anjan Reginald, director, business development, La Roche Switzerland stated that the intellectual acumen of Indians was highly appreciated in the West. Some of the toppers in medical schools and business schools were of Indian origin. The young scientists need to tap the latent talent of entrepreneurship and start working on viable technologies which can generate revenues.
“India already had 63 products for US FDA clearance and has over a 100 biotech companies as against the 1500 US companies. There was ample talent but still entrepreneurship was yet to take off on a large scale. This is despite the Government of India’s department of biotechnology support,” added Dr. Reginald.
Dr. Arfana Greco, Sr. Partner and Practice, MRZP, Milan Italy insisted the need to identify a potential technology, develop, protect the patent and exploit the market.
According to her technology transfers and licensing arrangements would be the answer for the pharma industry to grow. The concept of technology transfers was an incredible income for a country’s economy. It also contributes and generates new businesses and leads to the development of new products and services. Commercialisation creates advancements of technology and investment in research should be looked upon as a value-add and not a merely as an effort.
While Dr. Chakraborty suggested increased industry-institute partnerships to ensure that innovative research could be up scaled, Dr. Reginald recommended a constant interactions with the between the academia and industry to derive more value from the research. Dr. Greco stated that technology transfer and licensing would be the answer to execute new business development in the global intellectual environment.