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July 22, 2024

India is considering expanding market access for pharmaceutical products in the UK under the proposed FTA

As part of the proposed free trade agreement with Britain, India is looking at expanding market access for its pharmaceutical items in the UK, an official said.

The official added that a leaked chapter of the accord’s agreement on intellectual property (IP), which has been floating on several websites, is changed, twisted, and is a modified version of an original document of the UK.

The fact that both parties have emphasized their red lines and sensitivities is the best element of the proposed agreement. The official continued, “Ever-greening and touching manufacture of generic medications is absolutely non-negotiable.

In a trade agreement with the UAE, India has already increased market access for the domestic pharmaceutical industry.

According to the agreement, pharmaceutical and medical items made in India that have received regulatory approval in advanced nations including the US, UK, EU, Canada, and Australia would be licenced in India within 90 days.

Similar to that, the trade agreement between India and Australia would expedite approvals and quality inspections of manufacturing plants.

The agreement is divided into 26 chapters, which include investments, commodities, services, and intellectual property rights.
The UK is purportedly pushing for ever-greening of patents, which would allow businesses to retain their legal protections even after making minor adjustments.

The official stated that this paper should not be given any credit and that either party could contest its truth.

“In the pharmaceutical industry, we anticipate that the India-UK pact will be successful. The official stated that regulatory collaboration with the UK’s Medicines and Healthcare products Regulatory Agency is planned.

The Free-Trade Agreement (FTA) negotiations between India and Britain were supposed to be finished by Diwali (October 24), but the deadline was missed because of political developments in the UK.

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