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Report on pharma innovation to be released at USIBC meet

A report identifying a broad range of potential benefits of incremental pharmaceutical innovation for India would be released later this week by the US India Business Council (USIBC).

business Updated: Jun 16, 2009 12:15 IST

A report identifying a broad range of potential benefits of incremental pharmaceutical innovation for India would be released later this week by the US India Business Council (USIBC).

Commissioned by the USIBC and Coalition for Healthy India (CHI), and funded by the US Chamber of Commerce's Innovation, Development and Employment Alliance, the report 'The Value of Incremental Pharmaceutical Innovation: Benefits for Indian Patients and Indian Business' was produced by White & Case LLP and Dua Consulting.

The report reasons that Section 3(d) of India's Patents Act, which prevents incremental pharmaceutical innovations from receiving patent protection, inhibits development of safer, more efficacious, and more useful drugs for Indian patients.

Drawing upon studies of the impact of incremental pharmaceutical innovations on the economies of developed and developing nations, interviews with key stakeholders in the Indian pharmaceutical sector, and other methods, the report identifies a broad range of potential benefits of incremental pharmaceutical innovation for India.