I am really sad that we had to agre to this to get into the WTO. I appreciate that the WTO membership is real important. However I would have even been ready to buy legal music!!! rather than stop the making of generics. Initally my lack of enthusiasm for this patent was that we really cannot afford costlier medicines. That si just the way it is. If medicines become costlier people in India will just live with their diseases. That is something I do not think that the developed countires seem to understand.
Readying the article I have linked to I noticed that we have also been a major source of generics for impoverished countries in Africa and other poorer countries. These generics were really important part of aid efforts to these countries. Now it is going to be difficult for these organisations to extend the help they are used to.
Add to this the fact that obviously the MNCs are really happy. After all this law basically means an end to any pharmacy start-up in this country. The main reason is that no start-up can afford the R&D that is required for original block buster drugs.
For Indian IT this is a time of opportunity. The only way start-ups can come up in Pharmacy in India is by having a faster R&D cycle. The only way this is possible is by a goof software driven system for the intital research. Like I said another big possibility for the IT industry.