Abstract:

Medicines are chemical substances used in the therapy or manufacture of medication for the treatment, cure, prevention, or diagnosis of illness; they are also known as pharmaceutical drugs. Drugs are defined as any substance other than food that is used therapeutically to diagnose, treat, mitigate, or prevent illness in humans or animals, or that alters the structure or any function of the body. As we've seen in earlier study, a patent is a monopoly right that helps progress technology by giving the creator exclusive legal rights to commercialize their creation for a certain time period. The effects of patents on pharmaceutical industries in underdeveloped countries make them the most pressing and contentious intellectual property verities. The cost of drugs developed after 1980 is significantly impacted by patents. Without licenses, there would be far fewer pharmaceuticals available for people to purchase, making them crucial to the debate over how to ensure cheap access to drugs. Furthermore, the patent structure is meant to demand that those who need new treatments pay for their research and development. The public may suffer from the increased cost of branded drugs as a result of the exclusivity guaranteed by patents on pharmaceuticals and drugs. As a result, there is political unrest in many countries

Description:

Law Relating, Pharmaceutical Patents, India, pharmaceutical drugs, pharmaceutical industries