By Corporate Communications Team
India has the potential to be the next innovation destination and Intellectual Property (IP) can play a key role in value creation.
IP plays a very important role in the pharmaceutical sector. In case of innovator companies, IP assumes a much greater significance as it guides the R&D and commercialization strategy of the company that enables protection of inventions and innovations from competition. It can also help build credibility while enabling a first mover advantage in many cases. IP also enables product positioning, lifecycle management as well as asset monetization and valuation. A good IP strategy helps attract potential investors and partners thus paving the way for long-term value creation.
As Asia’s largest biotech enterprise, Biocon has been consistently delivering innovation and creating valuable intellectual property. This strategy has provided us a distinct competitive edge in biopharmaceuticals.
Our efforts towards creating intellectual wealth is being recognized both nationally and internationally.
Biocon has been conferred with the 9th National IP Award for 2017 in the category ‘Top Indian Company for creating Global Brand’ along with the prestigious WIPO Users Trophy at the National IPR Conference & 9th National Intellectual Property Awards ceremony in New Delhi.
Every year, the Office of Controller General of Patents, Designs and Trademarks (CGPDTM) recognizes enterprises who have been exceptional in creating Intellectual wealth and confers them with the National Intellectual Property (IP) Awards. The National IP Award carries an amount of Rs. 1,00,000/-, a citation and a memento. CGPDTM is part of the Department of Industrial Policy & Promotion, Govt. of India.
The WIPO Users’ Trophy is awarded for the early adoption and innovative use by WIPO’s IP users. The award is given jointly by the Indian Intellectual Property Office and World Intellectual Property Office, Geneva, Switzerland. The WIPO award comprises a trophy and a citation.
Nirmala Sitharaman, Minister of Commerce and Industry, Govt of India, presented both the awards to Biocon at a function organized by the Indian Intellectual Property Office and Confederation of Indian Chamber of Commerce & Industry (CII).
“It gives me a sense of great pride and distinct satisfaction that with every year, more and more number of people are coming in and competition is actually getting acute,” Ms. Sitharaman said during the award ceremony.
The two recent awards come on the heels of Biocon being featured on the prestigious Asia IP Elite List in December 2016. Biocon was the first Indian Biopharma company to win this prestigious international recognition.
The company had also won the ‘Best Biotech Patent Awards’ 2015-16 given by Indian Drug Manufacturers’ Association (IDMA).
Moreover, the company has won the ‘Best In-house IP Team of the Year’ Award at the Global IP conclave held in 2015 and the Pharmexcil Gold Patent Award in the Biotech category in financial year 2014-15 for filing the highest number of patents.