Patents - An Important Tool for Pharmaceutical Industry. | Abstract

e-ISSN: 2347-7857 p-ISSN: 2347-7849

Review Article Open Access

Patents - An Important Tool for Pharmaceutical Industry.

Abstract

This article re-views the rationale for intellectual property protection in the development of new products useful for pharmaceuticals The foremost importance of the present article is it describes the new drug development process, stages involved in development, the importance of protecting the invention till approval of the new drug. The importance of patents to pharmaceutical innovation has been reported in several cross-industry studies by economists. Prior studies have found that inventions through patents play a more critical role in appropriating the benefits of innovation in pharmaceuticals compared to other industries and a comparison of the Patent expiry of the blockbuster drug and its reduction in sales.

Chandra Mohan SB, SB Puranik, Prasanna Sagar, Swamy Sreenivasa, and Madhu Chakrapani Rao

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