US-India Business Council and Coalition for Healthy India to Release Report on the Value of Incremental Pharmaceutical Innovation for Indian Patients and Indian Business

WASHINGTON--(BUSINESS WIRE)--The US-India Business Council (USIBC) and the Coalition for Healthy India (CHI) will launch a major new study at a press event titled “The Value of Incremental Pharmaceutical Innovation: Benefits for Indian Patients and Indian Business” at USIBC’s 34^th Anniversary Synergies Summit on June 17^th in Washington DC. Along with USIBC and CHI, Mr. David Simmons, President and General Manager, Established Products Business Unit, Pfizer, will participate in the press event

“The Value of Incremental Pharmaceutical Innovation: Benefits for Indian Patients and Indian Business”

Commissioned by the USIBC and CHI, and funded by the U.S. Chamber of Commerce’s Innovation, Development and Employment Alliance, the report was produced by White & Case LLP and Dua Consulting. The report reasons that Section 3(d) of India’s Patents Act, which prevents incremental pharmaceutical innovations from receiving patent protection, inhibits development of safer, more efficacious, and more useful drugs for Indian patients.

Drawing upon studies of the impact of incremental pharmaceutical innovations on the economies of developed and developing nations, interviews with key stakeholders in the Indian pharmaceutical sector, and other methods, the report identifies a broad range of potential benefits of incremental pharmaceutical innovation for India.

USIBC’s 34^th Anniversary “Synergies Summit”, which will be attended by Hillary Clinton, United States Secretary of State; Gary Locke, United States Secretary of Commerce; Ambassador Ron Kirk, United States Trade Representative; Anand Sharma, Union Minister of Commerce & Industry, Government of India, and US and Indian industry titans such as USIBC Board Chairman, Indra K. Nooyi, Chairman and CEO, PepsiCo; Anil Ambani, Chairman and CEO, Reliance – ADA Group; Azim Premji, Chairman, Wipro, and Sy Sternberg, Retired Chairman and CEO, New York Life Insurance Company, provides an ideal backdrop for the release of this report underscoring the critical role that the protection of incremental pharmaceutical innovation must have in ensuring the development of new drug products that meet the needs of Indian patients.

The U.S.-India Business Council (USIBC), formed in 1975 at the request of the Government of India and the U.S. Government to deepen trade and strengthen commercial ties is hosted under the aegis of the U.S. Chamber of Commerce. The U.S. Chamber of Commerce is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector and region.

Coalition for Healthy India brings together like-minded members of the U.S. and Indian business communities, non-governmental organizations, patient advocacy organizations and health professionals to coordinate and support improved access to healthcare in India.

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