Novartis markets Nilotinib globally as Tasigna, which is used as the second-line therapy for Gleevec-resistant patients in the case of chronic myelogenous leukemia.
Swiss pharmaceutical giant Novartis is buoyant about growth prospects and further protection of intellectual property rights in India, despite the setback it suffered in the patent dispute for its cancer drug Glivec last year.
There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions.
Financial pressure on the parent company triggered the move.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
Aurobindo pharma, cipla, orchid chemicals are the prominent takeover targets.
Supreme Court is saying that consumers should not be forced to pay higher prices just because it is chemically a new drug unless there is a therapeutic benefit involved.
Experts say despite it being a global deal, the transaction will have to undergo CCI scrutiny because of the scale of operations.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The US India Business Council expressed its unease over the Supreme Court on denying a patent on Glivec and said that this would impact innovation and investment climate in India as a time when the country needs foreign direct investment the most.
Oncologist Dr Sthabir Dasgupta talks about the impact of Novartis's losing patent case on the Indian pharma industry.
Sector observers refute, call response a bluff.
In a landmark judgment that has the potential to change the direction of India's pharmaceutical business, the apex court said on Monday that the drug failed to qualify for a patent according to Indian law.
In a landmark judgment that has the potential to change the direction of India's pharmaceutical business, the Supreme Court said on Monday that the drug failed to qualify for a patent according to Indian law.
Novartis's famed cancer drug, Glivec, will not get patent protection in India. The apex body on patent and trademark disputes, the Intellectual Property Appellate Board (IPAB), has ruled that the drug "lacks innovation" and the high price tag of Rs 120,000 per month per patient would be too high for the common man.
Novartis India invites students to participate in the 2nd Biotechnology Leadership Camp (BioCamp) taking place in Hyderabad from July1 to 3, 2010.
Amid reports of a US Congress probe against India's largest drug maker Ranbaxy Laboratories, data show that many leading multinational companies such as Pfizer, GlaxoSmithKline, Novartis and Merck are also under the scanner of the US drug regulator, for more or less similar violations as Ranbaxy is alleged to have committed.
The Norwegian government has intervened in the high-profile case filed by Novartis against Indian patent laws by asking the drug company to withdraw the litigation.
The government of Switzerland will not be taking up the allegation by Novartis that Indian patent law is incompatible with the Trade-Related Aspects of Intellectual Property Rights agreement at the dispute settlement board of the WTO.
The government should take measures to promote innovation and R&D while simplifying regulations for the sector in the upcoming Union Budget, as per pharmaceutical industry bodies. Outlining the wish list for the sector in the upcoming Union Budget, Indian Pharmaceutical Alliance (IPA) secretary general Sudarshan Jain said the domestic pharma industry is currently around $50 billion in size and aspires to grow to around $130 billion by 2030 and $450 billion by 2047. "To achieve this vision, the Union Budget 2023-2024 should help fuel innovation and R&D, which will set the pace for propelling the pharmaceutical industry forward," he told PTI.
There is no doubt that patients are the ultimate beneficiaries of pharmaceutical research and development. Thousands of public health needs go unmet each day simply because there is still a cure out there waiting to be found. Product patents serve as encouragement to innovation, providing impetus to both investors and innovators. It has been argued that by denying product patents, India will encourage domestic generic production and, therefore, access to medicines.
Paul Herrling, global head of Novartis' corporate research, spoke to Business Standard about the changing concepts in R&D and Novartis' strategy.
Besides Novartis, the other companies are Roche, J&J, Glaxo and Astrazeneca.
In yet another setback to Swiss drug multinational Novartis AG, the Indian patent office has rejected its application to secure a patent for an alfa crystal form of its blockbuster cancer medicine, Glivec.
Global pharma majors such as Novartis, Roche and Pfizer have secured 392 medicine patents in less than three years of India changing its patent laws to allow product patenting system for drugs in the country. While Swiss multinational Hoffmann La Roche leads the tally with 34 patent grants, Novartis AG and Pfizer Inc follow closely with 25 and 24 respectively.
The worry is that India's cavalier approach to intellectual property may catch on in other parts of the developing world
Employees allege forcible layoffs; firm says ensuring it "best maximises performance and optimises resources"
Communications between the USTR and the world's most powerful pharmaceutical and trade lobbying groups reveal that many raised concerns about India's push to exempt Covid vaccines from intellectual property.
India is not so keen to co-operate with the US on IPR related probe.
Even as some major global pharmaceutical majors like Novartis say India's patent laws are weak and a hurdle to their investment plans for the country
NPPA denies price hike on Sanofi, Novartis, and Allergan products.
Patients' lobbies cheer ruling on anti-cancer drug Glivec, as affordability and access to life-saving drugs get a leg-up.
Markets end in red; bluechips struggle to keep pace.
India had been engaged in a contentious battle with the US over the issue, especially in the pharmaceutical sector.
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