New Delhi : A “highly predictable” IPR regime is needed for the pharma industry in India to develop to the level of the US or Europe, a senior executive of Swiss drug major Novartis said.
“If India wants to develop to the same framework that we have in Europe, Switzerland or US, it is very important that the environment becomes highly predictable and that IPRs are clearly defined,” Novartis Pharma AG, Global Head of Development, Established Medicines Franchise, Lutz Hegemann told PTI.
Novartis India Managing Director and Vice Chairman, Ranjit Shahani said: “I think some of the statements made by the Prime Minister on his recent visits are encouraging.”
He added: “We eagerly await translation of these into actionable items in the new IPR policy which is just being drafted out and also the rules being framed following that should provide fillip because we truly want to go from Make in India to invent in India because any economy which needs to be successful the core has to be innovation.”
The drug firm also said it has taken remedial action at its two plants in Western India which had received a warning letter from the US health regulator and expects the manufacturing facility to returm to normal functioning soon. -PTI
