India, Sept. 22 -- The Indian Patent Office (IPO) has revoked the patent of Novartis for its blockbuster cardiac drug, Vymada, based on a lack of novelty and inventive steps as required under the Patent Act. This revocation will pave the way for the entry of cheaper generics into the market, benefiting patients. Novartis may challenge this revocation in the Delhi High Court.

Besides the legality of this issue under the Patents Act, one also needs to understand the ramifications of this action under international law, namely, bilateral investment treaties (BITs) that empower foreign investors to bring claims against host States before an investor-state dispute settlement (ISDS) tribunal. This is relevant because Novartis is a Swiss compan...