The Novartis Verdict
Especially since the Apple v/s Samsung patent wars, patents have a bad name. What started off as a way to encourage innovation and protect the rights of inventors deteriorated into a ridiculous system that granted patents for insane and obvious things. Like those (in)famous rounded rectangles of Apple… But one area where I was supportive of patents was the pharma industry. After all, R&D costs a lot of money. There is no guarantee of success; and surely companies deserve a proportional reward for such risks that they took. And all the clinical trials and regulatory clearances before they can market medicines cost time and money. Hence to me, pharma was one industry where patents still made sense. But the recent Indian Supreme Court ruling shooting down the patent on Novartis's drug Glivec was a good example of how even pharma companies abuse the system: and no, I am not talking in some “how can you put a cost on human life” kind of way. Take a look at what Novartis w...