Getting the right medicine, to the right patient, at the right time, has long been the central mantra of those involved in the generic and biosimilar industries. The UK has been regarded with envy by other countries due to the success of its competitive off-patent medicines market, which has consistently delivered huge savings to the NHS while also guaranteeing security of supply. Four out of every five prescription medicines are met by generics or biosimilars and they are fundamental to the safe running of the NHS as well as the health and well-being of its patients.
Developing a comprehensive strategy for protecting your innovation is essential to protecting your company’s assets. Many innovations protected by applying for a patent could also be protected as trade secrets. A granted patent provides rights to exclude others from using the patented invention for a period of up to 20 years from filing. By contrast, there is no fixed term of protection for trade secrets. A trade secret may retain the exclusive innovation of a company for as long as it remains secret.