Monday, December 27 2004 18:43 Hrs (IST) - World Time -

New Delhi: Government today (Dec 26, 2004) sought to allay fears that the new patent regime will make drugs unaffordable saying the Ordinance had adequate safeguards to protect interests of common man.

"Fears of spiralling of drug prices were completely unfounded. Ninety seven per cent of the drugs are off-patent," Commerce and Industry Minister Kamal Nath said giving details of the Ordinance, which allows product patents in food, drug & chemicals and embedded software.

He said of the three per cent drugs, which can be patented, there were methods and various alternatives available to the Government to ensure their availability at affordable prices.

Nath said Government had also adequately addressed concerns of all stakeholders including domestic industry, political parties and consumer groups and added that the Ordinance, which was an interim measure, would be discussed in the Budget session.

Pointing out that introduction of product patents and phase-out of Multi-Fibre Agreement opened vast opportunities for the country, he said Government had brought embedded software also within the gamut of product patent following such a demand by NASSCOM and other industry quarters.

Emphasising that the Ordinance was an improvement over the previous Bill and protected domestic industry's interests, he said it provided for both pre and post-grant opposition and allowed mailbox applications with prospective effect.