The Ministry of Chemicals and Fertilizers (Department of Pharmaceuticals) has notified an order amending paragraph 32 of Drugs Prices Control Order 2013, effective from January 3, 2019:
a manufacturer is producing a new drug patented under the Indian Patent Act 1970 (39 of 1970) for a period of five years from the date of commencement of its commercial marketing by the manufacturer in the country. As per the amendment, new drugs patented in India are exempted from price control for a period of five years from the date of commencement of their commercial marketing. This amendment was intended to boost the patenting of innovations in India. Most likely, it would encourage foreign pharmaceutical companies to manufacture and commercialise their new patented drugs and medical devices in India.
Article by Manisha Singh and Swati Gupta.
1st published on The Global IP Matrix