Major changes can be expected in the Indian pharmaceuticals industry from 2005 due to the agreement on TRIPS, under which India will be required to introduce product patents for pharmaceutical products. This will likely lead to sharp increases in the prices of newly patented drugs. Although the TRIPS agreement may also lead to increased research on diseases common in developing countries, these benefits can be obtained in alternative ways, and without high costs. Thus, the TRIPS agreement is not in the national interest and should be renegotiated.
