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India rejects extending drug patents in EU, UK trade talks
Mint Mumbai
|June 22, 2023
Move aimed at protecting India's generic drug industry and govt healthcare schemes
India is unlikely to budge from its opposition to the provisions on regulatory data protection and patent extension in free trade talks with the EU and the UK, it has told its negotiating partners, in a move aimed at protecting its generic drug industry and healthcare schemes.
New Delhi’s stand has been “firmly communicated", said a person aware of the development, pointing out that domestic healthcare schemes such as the Pradhan Mantri Bhartiya Janaushadhi Pariyojana are heavily dependent on affordable generic drugs.
India is the world’s largest provider of generic drugs, accounting for a fifth of global supply. The low cost of generics mean they comprise about 70-80% of the domestic retail market. They are also crucial to the well-being of the aging Indian population.
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