Patents – An Important Tool for Pharmaceutical Industry

Dec 2022

For suitable protection of medical inventions, patents are the perfect option. This would also safeguard medical discoveries that are research-based and it is done by most of the pharmaceutical companies. In return for the protection offered by the patent, it can disclose the research used in coming up with the medical innovation in the pharmaceutical industries.

What does patent means for the pharmaceutical industry?

Patent gives special rights for the items that belonged to the pharmaceutical industry and it is a result of the innovative invention by a team of researchers. Once the drug is included under the patent system, no other company or brand can use it without the permission of its actual inventor. In addition, the patent for any drugs can prevent the problems of infringement of items.

Importance of drug patents

Knowing the importance of patents have for drugs, it shall help to maintain it better. It is considered to be a type of intellectual property right that offers protection over any invention. This is of great importance in the pharmaceutical industry to prevent the use of drugs by one company by another. As new and latest drugs are being introduced in the industry, opting for drug patents is of pivotal importance. With the advancement in the pharmaceutical industry, the patents are better required in the industry.

The pharmaceutical companies are coming up with new drug invention that can save human lives. Therefore, with the help of the patents, the companies can guarantee their profit and deal with any problems of infringement in the future. It shall be worthy to have the patent for the money and time invested in the invention of the new drugs in the pharmaceutical industry.

Advantages of drug patents

Patents contribute to almost 80% revenue of the overall pharmaceutical companies
With the help of drug patents, it helps cover up for the money spent in the research and the development of the medicines
With drug patents, it is possible to enhance the venture capital of the pharmaceutical industry that would have a positive impact on the overall economy of the industry
Patents help fights infringement cases with competitors and prevent the duplicate invention and production of drugs

However, it should be known that not all drugs can be patented. It is done based on some criteria such as new and useful inventions and the like. Only these situations would require the patent on the drug inventions.

Trending Blogs

Evaluation Intellectual Property Rights

Intellectual property has always existed since the dawn of time but there were no laws in place for their protection. Intellectual property is intangible asset, be it music, creative writing, arts, discoveries, inventions and development of unique words, symbols and artwork. Intellectual property rights is a generic term that covers copyright, industrial design, trade secrets, […]

Well Known Trademark And Indian Law

What is well-known trademark? As per new Trade Mark Rules 2017, a new procedure has been created that allows the Registrar to proclaim a particular trademark as “well known”. Section 2(1)(zg) Of The Trademark Act, 1999 states that well- known trademark is a mark which has become well known to the section of the public […]

Voluntary Cancellation of Trademark Registration

Trademark registration is a timely affair for 10 years, and it is registered as per the Trademark Act, 1999. There are certain rules and laws pertaining to trademarking a symbol for a brand. A proprietor can get a symbol, phrase of the word, or equivalent trademarked to be used for the brand. But there are […]

Music Law 101: What Does Copyright Law Protect?

Music Law 101 is all about protecting different musical works along with sound recordings to its original creator. As copyright can be a confusing part, it is better to know what all it protects so that it becomes easy. It is known that each piece of recording has two types of copyrights. First, it protects […]

Can Religious Symbols Be Registered As Trademarks?

Are you planning to register religious symbols as trademarks? Well, you should research thoroughly to understand the use of religious symbols as trademarks. You have to consider the sentiments of people before you plan to use regions symbol for your business. India being a secular country encourages different citizen follows different religions, practicing it and […]

PTAB Should Not Disapprove Claims on the Grounds of Indefiniteness in IPR

Federal Circuit has disapproved of arguments of claims that show any reason other than anticipation pertaining to party procedures. Federal Circuit has rejected the challenge shown by Samsung Electronics America, Inc. The company challenged that PTAB can disapprove claims that are considered indefinite in IPR. Samsung has been charged on the grounds of infringing U.S. […]

Color Trademarks in the Pharmaceutical Industry

The trademarks are vital part of company goods or service and with help of trademark; the consumers are able to identify the business better. Before deciding the correct trademark option for pharmaceutical industry, it is necessary to check for its existence. If any similar one is already present in the trademark database, it is better […]

3D Printing and IPR

The three-dimensional or 3D printing service is different from the traditional way of manufacturing. In the 3D process, objects are created layer wise to get the desired three dimensional impacts. Since the inception of this latest idea in 1980s, it has gone through several changes in the technology used. This requires use of different production […]

Celebrity Rights – Public, Private or Intellectual Property

Celebrity lives are mostly public these days through different sources but they too want to maintain certain privacy. This has triggered the need to maintain celebrity rights on different properties. There are several company options that are selling products with celebrity faces from bags to soaps to cosmetics to many others. It requires suitable celebrity […]

Trademarking surnames

Having difficult surnames may be challenging to explain others and also when you want to register the name as trademark. As per the trademark and merchandise act of 1958, it is stated that a mark can be refused if one choose a personal name or surname. Though, there is no such clear specification in the […]