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Rediff.com  » Business » Pharma body terms Pfizer chief's remarks 'racist'

Pharma body terms Pfizer chief's remarks 'racist'

By BS Corporate Bureau in New Delhi
January 18, 2006 10:55 IST
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Indian Pharmaceutical Alliance, representing some of the biggest domestic companies such as Ranbaxy, Sun Pharma and Dr Reddy's, has been infuriated by some comments made by Pfizer International chairman and chief executive Hank McKinnell.

Accusing that the statements made by McKinnell reek off racism, the pharma association has written to the foreign secretary, stating that they are "slanderous and outright malicious aimed to denigrate Indian companies".

McKinnell's comments had come in the wake of Pfizer's win over Ranbaxy in a US district court in December last year.

The Indian generics major has filed a 'Para IV' patent challenge to Pfizer's Lipitor, which has become the largest selling prescription drug of all times with annual revenue of $12 billion.

The litigation on the same has been the most keenly watched battle between innovator and generics companies.

McKinnell was quoted (in Financial Times of December 17, 2005) by IPA as saying "this should be a message for companies in India which do have important scientific capabilities that they should not steal others' innovations, but they should create technology for themselves".

The IPA letter has stated that "since 'Para IV' is a common practice by several companies, it does not in any way amount to 'stealing' as maliciously alleged..."

It has further stated that by singling out Indian companies out of the whole lot, Pfizer chairman has not only sought to distort the scope of the decision but also made racist comments, tantamount to racial discrimination.

The industry lobby has also requested the foreign secretary to pursue the matter with the authorities concerned in the US.
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BS Corporate Bureau in New Delhi
Source: source
 

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