India needs to show the world it respects intellectual property rights: Kiran Mazumdar-Shaw

Wednesday, June 12, 2013

NEW DELHI: India needs to show the world that it respectsintellectual property rights if it wants global pharmaceutical firms to invest in India, according to Biocon Chairman and Managing Director Kiran Mazumdar-Shaw.

She also said India should be judicious while granting compulsory licenses (CL) for patented drugs to domestic drug makers and it should be during an emergency, pandemic or under acute drug shortage and “not on the basis of affordability”.

“…We must understand that intellectual property (IP) is important for India to embrace and respect and protect. If you cannot demonstrate that IP is safe in the country, I think you are not sending the right message, you are not going to find people investing in India,” Shaw told PTI in an interview.

She added that India is not demonstrating itself as a true signatory to the Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement.

Source: The Economic Times (link opens in a new window)

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