A strong patent system essential for economic growth: Shahani

EPP News Bureau - Mumbai

A strong patents system is essential for India to facilitate wealth creation and investment in knowledge-based sectors, Novartis India chief Ranjit Shahani told reporters at a round table on intellectual property rights here.

He said a regulatory environment which respects intellectual property (IP) would attract more foreign direct investment, besides stepping up research and development expenditure by companies.

He wondered why a country like India, which is a strong IP powerhouse, should be apprehensive about a strong patent system.

The roundtable was attended by US Court of Appeals for the Federal Circuit Judge Randall R Reader and leading patent attorneys representing Indian drug-makers in America.

Shahani later told Express Pharma Pulse that under its international assistance programme, Novartis would provide its cancer drug Glivec to all patients in India, who find it unaffordable.

He assured that not one such patient would be left without the therapy.

Around 650 patients are now availing the therapy under this programme.

When asked about what the company was planning to do to make Hyderabad-based Natco to honour the exclusive marketing right secured by the company on Glivec, he said since the latter had challenged the Novartis’ right in the Delhi High Court, he would not risk a comment.