Abstract

SCOPE OF PHARMACEUTICAL IPR IN INDIA AS A CAREER PERSPECTIVE

Venkata Kamalakar Balijepalli*

Abstract

Pharma Industry is one of the giant industry having huge profits, knowledge driven and growth in India because of government policies and limited competition from overseas during the past three decades. In Pharma industry from literature search till the final stage of product launch there were lots of hardships faced in terms of production, initiation etc. The project may succeed or may not incurring losses to the company and the team. If they succeed because of increase in competitiveness, economic dominance in the global markets claiming a method, product, process etc. became a mandatory issue. Pricing of the medicine, development, marketing of a new pharmaceutical product across different parts of the globe is possible by protecting the intellectual property rights of the invention. IPR plays a key role in launching a drug at equal pricing at different parts of the globe, the unequal pricing of a drug in different countries results in Pharmaceutical controversies between the developing countries. All the developing countries in the world have strong patent system to preserve the novelty of the invention. Indian Pharma industry is utilizing this opportunity to spread across the globe by commercializing IP protected Pharmaceutical products on exclusive or non exclusive basis with one or more companies. The Indian pharmaceutical industry is a successful and having a consistent growth from the past three decades in terms of high technology driven inventions. Indian pharmaceutical industry is entering into international markets from domestic markets for earning huge profits. In this context the field of IPR is producing more jobs to the young generation who wish to enter the top companies involved in R&D activities.

Keywords: Pharma Industry is one involved in R&D activities.