Updated on 4 July 2013
PhRMA, that represents America’s leading biopharmaceutical researchers and biotechnology companies has alleged that patent rights in India are ‘unreasonably denied’
Singapore: Expressing grave concern over the deteriorating intellectual property environment in India, the Pharmaceutical Research and Manufacturers of America (PhRMA) have said that the situation is worrying.
PhRMA that represents America's leading biopharmaceutical researchers and biotechnology companies has further alleged that patent rights in the country are ‘unreasonably denied'. "PhRMA remains concerned about the deteriorating intellectual property environment in India," said PhRMA spokesperson, Mr Mark Grayson.
Mr Grayson further added, "We have shared our views about the importance of promoting a policy environment that supports continued research and development of new medicines with Ambassador Rao and other members of the Indian government."
Only a few days back, India's Ambassador to the US, Nirupama Rao had written a letter to the US lawmakers defending India's IP policy explaining how India has a well-settled, stable and robust IP regime. A Congressional committee too held a hearing on the issue. "The three main pillars of this regime are comprehensive laws, detailed rules to back them up, and strong enforcement mechanisms, including for dispute resolution," she had said.
She had argued that more than 85 percent of all the patents granted for pharmaceutical inventions between 2005 and 2011 were owned by foreign companies in India. About 20-to-30 percent share of the patents were held by US.