ARCHIVES
VOL. 10, ISSUE 1 (2024)
A study of price regulation for patented medicines in India
Authors
Wasif Reza Molla
Abstract
In the realm of healthcare, the pricing of patented medicines has become a subject of intense scrutiny and debate. As India strives to ensure access to essential medicines while fostering an environment conducive to innovation, the regulation of drug prices, especially for patented medicines, takes centre stage. To grasp the current scenario, it is crucial to traverse the historical trajectory of pharmaceutical patenting in India. Since the early years of a product patent regime, India has undergone transformative changes in its approach, adopting measures that seek to strike a delicate balance between rewarding innovation and safeguarding public health. The introduction of a stringent product patent regime for pharmaceuticals is indeed a very controversial aspect of the TRIPS. Nevertheless, after the completion of the transition period of ten years, India introduced product patents on January 1, 2005, by making the necessary amendments to the Patents Act of 1970. But the most significant impact of TRIPS on India is the reintroduction of the product patent regime in pharmaceuticals. Although during the British era product patents were available in India, after independence, keeping in view the public health concerns, product patents for pharmaceuticals were made prohibited; only process patents were permitted under the Patents Act 1970. As India reintroduced product patents in pharmaceuticals, the main concern was how the introduction of a product patent regime might affect initiatives to strengthen public health and technical advancement, notably whether it would enhance the price of pharmaceutical products. However, measures like price regulation and compulsory licensing may be able to keep pharmaceutical prices in check. Even the threat of compulsory licensing could keep the price of patented drugs under control. In view of the above, this article undertakes a comprehensive exploration of the intricate landscape surrounding the price regulation of patented medicines in India, shedding light on the challenges, implications, and delicate equilibrium between innovation and affordability.
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Pages:163-167
How to cite this article:
Wasif Reza Molla "A study of price regulation for patented medicines in India". International Journal of Law, Vol 10, Issue 1, 2024, Pages 163-167
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