Not facing any significant IPR challenges in India: Abbott

Tags: Abbott, Companies
American pharmaceuticals giant Abbott has told the US government that it is not facing any significant challenge with respect to intellectual property rights, as is being alleged by a section of the US industry, especially from the pharma sector.

"India is an investment priority and fundamentally important to the future of Abbott," Abbott's senior officer Jason Grove yesterday wrote in a submission to the US International Trade Commission that is conducting an investigation into Indian trade practices and policies and its impact on American businesses.

"Abbott is not currently facing any significant challenges with respect to intellectual property protection in India," Grove said.

"We have had a positive experience in India, are committed to a long-term presence, and remain optimistic about our future because our diversified product offering makes us uniquely able to meet the health needs of Indian citizens," said Abbott, which has been present in India for over a century now.

In 2010, Abbott acquired both the pharmaceutical business of Solvay, which had a presence in India, and Piramal Healthcare Solutions, which was part of Piramal Group. These transactions made it one of the largest health care companies in the country. It now employs approximately 14,000 people in India, making it our largest employee base outside the United States.

"Abbott's experience in India has been positive," Grove said in his five page submission to USITC.

"India remains a great opportunity for companies like Abbott. We take a long term view of the market and understand local needs. We have worked to establish a meaningful dialogue with key Indian stakeholders, including government, patients, physicians and civil society groups, to address those needs," he added.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Sebi must not be lax in weeding out mutual fund houses

    Last May, capital market regulator Securities and Exchange Board of India (Sebi) amended the Sebi (mutual funds) regulations, 1996, directing all fund

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Kumar Jain

Customer orientation needs human touch

In the mid-1990s, while researching drivers of corporate excellence, we ...

Kuruvilla Pandikattu SJ

Can religion help us protect our planet?

Though not factually true, in popular imagination, the relationship between ...

Shona Adhikari

Pop art is truly a feast for the eyes

The internationally reknowned Bruno Art Group’s presence in India had ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture