Patent Amendment Act 2005: Its Effect on Indian Pharmaceutical Company

India has a history of the patent acts starting form 1911. All happened was pre independence. The Patent Act, 1970 was the first patent act to the independent India. It had provision for only process patent but did not have any provision for product patent. Therefore the process could have been patented but not the end product which gave rise to the concept of reverse mechanism. Absence of product patent helped the Indian pharmaceutical industries to use this at their advantage and find out a drug of same specification by a different method. This helped the Indian Pharmaceutical industries to flourish. After India signed the TRIPS it was obliged to amend the patent act and introduce the product patent. The researcher in the article discusses how the signing of the TRIPS was detrimental to the interest of the Indian Pharmaceutical Industries and its effect on the Indian Economy. The researcher in his paper would also deal in details the amendment of the patent act and its pros and corns.