Pharmaceutical industry currently has an evolving IPR strategy requiring a better focus and approach in the coming era. This article chalks out the evolving role of IPR in framing legal strategies for pharmaceutical industry.
In the era of globalisation, there is a constant technological race especially in the field of pharmaceuticals to develop new/improvised drugs. Due to this, pharmaceutical companies are making huge investments on R&D and hence, it is imperative to protect the Intellectual Property (IP) associated therein and obtain returns by its commercialization. Accordingly, it is no surprise that IP, particularly patents have become important in framing legal strategies for pharmaceutical companies, right from the commencement of research till the expiry of patents. Frequently, pharmaceutical companies strategise on procuring and enforcing their patents, however, such strategies are not focused on how to maintain their patents when challenged for validity. On the other hand, economic liberalisation has seeded a competitive market pressurising the competitors to come out with generic or biosimilar versions for which suitable strategies have to be formulated.
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