Friday, August 17, 2007 Catalysts of new technologies By Clint Fabiosa & Andrew Ong I protect
PATENTS are a powerful tool for stimulating the creation of new technologies and industries. Biotechnologies, for example, could not have developed as it has without the patent system.
In India, Dr. Anji Reddy founded a pharmaceutical company in 1993 that has rapidly expanded to provide high-quality low cost pharmaceutical products to markets worldwide.
With the purpose of discovering new drug therapies, Reddy’s Research Foundation (DRF) was established. It attributes much of its success to patent production, through which it was able to market and license new drugs internationally.
To date, the foundation has already filed 31 product patent applications in the United States where 17 were granted. In India, it has a total of 110 patent applications for the pharmaceutical products it developed, making it one of the world’s most innovative drug companies.
