Abstract
The Patent (Amendment) Act of 2005 enforced after TRIPS raises many issues which hinder growth of Indian pharma companies. To tackle this, Indian pharma companies doubled their R&D expenditure and became significant players in global generic drug market. Indian pharmaceutical companies, which predominantly focused on import-oriented market, shifted to research-based approach by signing various agreements with MNCs that led to M&A and technology transfer. At the same time growth in R&D activities increased ANDA and DMF filing in the USA and Europe. Companies also kept their social responsibility by selling medicines at affordable price to patients. This paper highlights the changing business scenario of Indian pharmaceutical companies to counteract various issues evolved from new patent regime after TRIPS.
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