An Exploratory Study on Patent Strategies by Pharmaceutical Firms

The study analyzes the strategic use of patents in the pharmaceutical industry, especially considering their effect on the market exclusivity, innovation, and corporate profitability. Patents are one of the most primary intellectual property protection instruments that encourage competitive advantage and innovation in developing drugs. Based on semi- structured interviews conducted with professionals in multinational pharmaceutical companies and those in Indian pharmaceutical companies, this paper explores various patent management approaches, including the practice of "evergreening," as well as its related ethical and regulatory consequences. This study analyzes the impact of expiring patents that allow open markets with generic competition and ways that firms reduce their lost revenues under such conditions. The study further investigates the roles and effects of the regional regulatory environment on patent strategies, depending on regional differences in patent protection and enforcement. The research will gather data through qualitative methods using thematic interviews and review of documents. The aim is to gain a rich analysis of how patenting practice shapes industry dynamics, competition, and access to medicines. This means that the findings will have crucial implications for policy regulators, industry stakeholders, and researchers striving to understand the complex interplay between patent management, innovation, market access in the pharma sector. Key Words: Patent Strategies, Pharmaceutical Industry, Innovation, Market Exclusivity, Evergreening, Generic Competition, Patent Management, Intellectual Property Protection, Regulatory Environment, Medicines