India's pharmaceutical industry forced to change ways

March 2005 World Trade Organization-compliant patent law now prevents Indian drug companies from making the knockoff products that they’Äôve profited from for more than three decades.

Nov 30, 2005

The legislation deals blow to the industry by narrowing the definition of a patentable compound. Simply applying reverse engineering to patented drugs and producing copycat generics will no longer be allowed. India has the world's fourth-largest pharmaceutical industry in terms of volume behind the United States, the European Union, and Japan. It is worth $7 billion now and is projected to grow to $35 billion by 2010, according to McKinsey and Co.

Source: Red Herring

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