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All these facets pose challenge to drug industry. India being a party to TRIPS Agreement these changes are to be effected by January, 2005.
Incidentally, it may be mentioned that prior to 1970, Indian Patent Act provided for product patent. Since development of new molecule requires huge investment, which was beyond the capacity of pharma industry, the R&D activities did not pick up at desired pace. The 1970 Act provided for the Process Patent for certain areas including drugs and pharmaceuticals permitting making of the drugs through alternate process. Industry, thus gave lot of emphasis to reverse engineer the existing drugs with the intention to reduce the cost rather than focus on development of new molecules...
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