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Indian drugmakers asks US Trade Representative body to restore faith in new trade policy |
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NEW DELHI: Leading Indian drugmakers have urged the US Trade Representative's Office to recognise the renewed business confidence in Indian economy after the new government has taken over and appreciate that some concerns on India's intellectual property policy climate and its judiciary are 'overstated' and 'misplaced'.
Indian Pharma Alliance, a grouping of top domestic drugmakers, in its latest submission has urged the USTR to consider submissions of many American firms across sectors, which hold a positive view of India's IPR regime besides taking note of the series of steps the new government led by Prime Minister Narendra Modi is taking to strengthen the climate for innovation.
The USTR, under its annual "Special 301" Report on the adequacy and effectiveness of trading partners' protection and enforcement of IPR, has been reviewing whether India's IP regime has deteriorated enough to warrant a downgrade in its status to 'Priority Foreign Country.
The downgrade will allow the country to impose trade sanctions on India. Early this year, the USTR deferred a decision till autumn to downgrade India, only to restart an 'out-of-cycle' review after Modi returned. A USTR statement, however, added that the US will not revisit India's designation in 2014.
"The overwhelming electoral mandate to Prime Minister Narendra Modi in the 2014 elections in India heralds an opportunity for decisive governance that augurs well for reinvigorating economic growth in India as well as global investment and trade partnerships," said a IPA submission to USTR.
Citing Abbott's recent decision to set up a plant as well as Gilead Sciences' decision to tie-up with seven Indian companies to manufacture Sofosbuvir (SovaldiTM), IPA said "US pharmaceutical companies are forging ahead with their investments and partnerships in India".
"We are aware of the vociferous complaints about India's patent law and policy by some in the US pharmaceutical industry. It is important to note that, their views are not universally shared as is clear from the submissions made to the USTR during the 2014 Special 301 Review and elsewhere" IPA said citing submissions of US firms Boeing, Honeywell Inc and Corning Inc.
Allegations similar to those made against India are also made when judicial decisions, including those of the Supreme Court of the United States, go against patent owners, said IPA.
It added that Novartis alone has managed to get injunctions by five different judges of the Delhi High Court in the last seven months restraining Indian manufactures from selling versions of its drugs.
A series of announcements by the Indian government on a new IPR policy within next six months, a new IPR think-tank and measures to strengthen its patent office should also be taken into consideration. " The assessment of the USTR in the out of cycle review can be a powerful influence in either strengthening the positive momentum or dampening the investment climate. We trust it will be the former" said the submission.
Source : economictimes.indiatimes.com
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