INTELLECTUAL PROPERTY RIGHTS& EXCESS TO MEDICINE “BALANCING INNOVATION& PUBLIC HEALTH”
AUTHOR – PRABHAT TOMAR, STUDENT AT IILM UNIVERSITY, GREATER NOIDA
BEST CITATION – PRABHAT TOMAR, INTELLECTUAL PROPERTY RIGHTS& EXCESS TO MEDICINE “BALANCING INNOVATION& PUBLIC HEALTH”, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (1) OF 2024, PG. 750-759, APIS – 3920 – 0001 & ISSN – 2583-2344.
ABSTRACT
Intellectual Property Rights (IPRs), particularly patents, play a pivotal role in fostering innovation within the pharmaceutical industry by providing inventors with exclusive rights to their creations. However, these rights often conflict with the urgent global need for accessible and affordable healthcare, particularly in low- and middle-income countries where high drug prices can restrict access to essential medicines. This paper examines the dual challenges posed by IPRs: promoting pharmaceutical innovation while ensuring public health needs are met. Through a synthesis of existing literature, global health reports, and case studies, we analyze the impact of IPRs on access to medicines and assess the effectiveness of various strategies designed to balance these competing interests. We explore mechanisms such as compulsory licensing, which has been utilized by countries like Brazil and Thailand to bypass patent rights for critical drugs, and patent pools, exemplified by initiatives like the Medicines Patent Pool (MPP), which facilitate the production and distribution of generic drugs through voluntary licensing agreements. The results highlight that while these mechanisms can improve drug accessibility, they also require careful implementation to avoid trade tensions and sustain pharmaceutical innovation. We conclude with policy recommendations that propose a balanced approach, integrating market incentives with regulatory frameworks to promote both innovation and broad access to essential medicines. This balanced approach is essential for mitigating health disparities and enhancing global health outcomes, underscoring the need for international cooperation and robust health policy frameworks that align IPRs with public health objectives.
KEY WORDS: IPR, MEDICAL, INDUSTRY, DRUGS, HEALTH,GLOBAL,IMPLEMENT.