The Supreme Court has dismissed Swiss drugmaker Novartis AG's attempt to win patent protection for its cancer drug Glivec, a serious blow to Western pharmaceutical firms who are increasingly focusing on India to drive sales. (Read: Novartis shares fall 7%)
The decision also sets a benchmark for several intellectual property disputes in India, where many patented drugs are unaffordable for most of its 1.2 billion people, 40 percent of whom earn less than $1.25 a day.
India's domestic drugs market is the 14th largest globally, but with annual growth of 13-14 percent and the world's second biggest population, it has massive potential at a time when traditional developed markets have slowed down.
The Supreme Court's landmark ruling is likely to affect several other companies and their branded medicines. Full story...
Related posts:
The decision also sets a benchmark for several intellectual property disputes in India, where many patented drugs are unaffordable for most of its 1.2 billion people, 40 percent of whom earn less than $1.25 a day.
India's domestic drugs market is the 14th largest globally, but with annual growth of 13-14 percent and the world's second biggest population, it has massive potential at a time when traditional developed markets have slowed down.
The Supreme Court's landmark ruling is likely to affect several other companies and their branded medicines. Full story...
Related posts:
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- Bhopal disaster victims used as lab rats for Big Pharma! WTF!
- U.S. pharmaceutical companies testing drugs on India's poor...
- India has become a huge testing ground for Big Pharma's trial medicines...
- Impoverished women in India used as guinea pigs by pharma company...
- Big Pharma continues drug experiments on the poor for profit...
- Germany fourth country to ban Novartis flu vaccine...
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