Novartis Case Study
Novartis dedicated to serving society and the patient through providing them with innovative health care solution aimed at addressing the emerging needs. The company offers wide variety of eye care products, innovative medicine, diagnostic tools, cost saving generic products, over the counter products, preventive medicines and Animal health products in over one hundred and forty countries. The company strives in creating value via responsible business.
Novartis patent case study.
Patent is an intellectual property ownership tool that is applied to safeguard any innovation by an inventor. Patency period lasts for twenty years from the time patent application form is filled. For any pharmaceutical product to be granted patent, it has to posse character originality. Why patent? First, for any pharmaceutical company it prevents any other person from using the same invention for any commercial purpose, secondly it guarantees distribution of information and finally, it encourages long-term research and financial risk.
Form the case of Novartis being a world leader in pharmaceutical products it invented a new kind of cancer drug and filled a patent application. The new cancer drug called glivec a very expensive drug was already featured in the market but the company decided to, alter the formula slightly and seek patent using the altered version.
The Indian patent Act prohibits patents of new version of known drug molecules. In addition, the companies in India produce drugs that are relatively cheap to its consumers. The issues with Glivec included it patency validity and whether ever greening was involved.
In the judgment, its patency claim was rejected on the basis that a simple modification does not warrant novelty to the applied product as it has no better results than the already existing product. Since the patency of the original product had expired, Glivec was to be sold at a cheaper rate in the market.