The US industry on Wednesday said it is reviewing the order of the Supreme Court early this week that denied patent on Glivec, a cancer medication produced by Swiss drug maker Novartis, as Corporate America expressed dismay at the court verdict.
"We are aware of the Supreme Court decision and are reviewing the Court's order," the US Trade Representative spokesperson Andrea Mead told the news agency.
"We look forward to continued engagement and successful collaboration with India on these issues," Mead said when asked on the US position on the Supreme Court decision.
The US India Business Council (USIBC) expressed its unease over the Supreme Court on denying a patent on Glivec and said that this would impact innovation and investment climate in India as a time when the country needs foreign direct investment the most.
"Innovation requires the reward and protection of intellectual property. We are certain India's leadership understands this, and that creating and maintaining an environment that inspires and enables innovation is in India's ultimate, long-term interest.
"Such an environment is crucial if India is to attract investment in this or other highly complex sectors," USIBC President Ron Somers said, expressing his disappointment over the court order.
The Pharmaceutical Research and Manufacturers of America (PhRMA) in a statement expressed disappointed with the Indian Supreme Court's decision to deny a patent on Glivec.
PhRMA is Washington-based lobbying group for brand-name manufacturers, which benefit from patents that create monopolies.