Indian Urged To Boost IPP For Investment

The Organization of Pharmaceutical producers of India, which representsthe Indian subsidiaries of foreign pharmaceutical companies and major local manufacturers, has urged the Indian government to institute strong intellectual property protection to encourage foreign investment in the pharmaceutical sector, and curtail the current brain drain from India.

OPPI has told the federal Ministry of Chemicals and Fertilizers that strong intellectual property rights will be instrumental in reversing this process, not only boosting the confidence of foreign investors but also putting a halt to the "world-renowned pool of scientific talent" moving out of the country.

Many multinational companies will be reluctant to introduce innovative new medicines in the absence of strong IPP, said OPPI's president, Mr D Bhadury. Only a strong patent law can encourage, stimulate and sustain innovation, he said, adding: "it appears that basically we have not developed the mindset to accept the fact of globalization and appreciate the reality that India cannot afford to stand isolated when its economy is globalizing."