This week, the Indian Supreme Court annulled a patent for a leukemia drug created by Swiss pharmaceutical company Novartis, opening the door for generic versions.
Due Diligence’s Carmen Russell-Sluchansky talks with Swaminathan S. Anklesaria Aiyar, Indian Economist and Fellow at the Cato Institute:
Aiyar counters challenges that the Indian Supreme Court is “anti-patent”, saying that, instead, India has very high standards for granting a patent. Rather than, for example, a salt change in the drug, patents are instead only given for things which improve the efficiency of drug because, in the Indian view, “to grant a patent is to grant a monopoly.”
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