Posted on 09/28/2012 8:21:44 PM PDT by ConservativeMind
Pharmaceutical giant Bayer AG on Wednesday said it was "disappointed" with an Indian ruling that allows a local firm to produce a cheaper copy of its patented drug Nexavar for liver and lung cancer.
The German company's reaction came after India's Intellectual Property Appellate Board patents' watchdog this month rejected its appeal to suspend the sale of the drug's cheaper copy by Natco Pharma Ltd.
The watchdog in March had ruled the price Bayer charged for Nexavar was "exorbitant" and "out of reach" of most Indian patients.
It ordered Bayer to give a so-called "compulsory licence" to Natco to produce the drug locally, a decision the drug giant appealed against.
"We are disappointed with the decision of the Intellectual Property Appellate Board to reject the stay petition on the compulsory license granted to Natco," Bayer spokesman Aloke Pradhan told AFP in an emailed statement.
Pradhan reiterated the company's earlier stand that Bayer would "rigorously continue to defend our intellectual property rights".
Drug firms insist they need patent protection for medicines to recoup the cost of long years of research and development.
Under the World Trade Organization's TRIPS Agreement, which governs trade and intellectual property rules, compulsory licences are a legally recognised means to overcome barriers in accessing affordable medicines.
The Indian ruling in March marked the first time a "compulsory licence" for production of a patented drug had been granted in the country of 1.2 billion people.
India has long been a key provider of cheap generic medicines to the developing world as it did not issue drug patents until 2005, when it was obliged to adhere to WTO intellectual property regulations.
Since then newer medicines have increasingly been patented in the country, keeping prices high.
Under the ruling, Natco will pay Bayer a six percent royalty on sales of the drug and sell the medicine for 8,800 rupees ($165) a month—compared to the 280,000 rupees ($5,320) the company charges.
Experts have said the Indian ruling could pave the way for a rush of other "compulsory licence" applications in India and other poor nations, allowing access to patented life-saving drugs at a fraction of the cost.
(c) 2012 AFP
OR the elimination of the base science and experimentation required to PRODUCE new life saving drugs. As well as the reticence of foreign producers to allow the export of their original intellectual properties to India.
Boo f****** hoo the poor cannot afford it, so let’s destroy innovation so that the rest cannot have it either.
The illegal racket should be destroyed if the tinpot government (and the court system) protects and harbors it. In the long run, they are as dangerous as terrorists.
People wonder why americans pay so much for newer drugs. U.S. companies paid for the R&D and the testing required by the FDA and the marketing. While other countries steal the drug companies drug, they are forced to charge Americans ever higher prices to recoup their costs and make a profit.
You’re right, of course. BUT....I’m spending a huge amount on meds because I’m not insured, and people like today’s “phone whore” walk right in and get it free? I’m literally spending my retirement funds to fund my need for meds. I’m currently looking into solutions, but it takes forever to accomplish the red tape.
Hmmmmmm..........I’m on the fence.
I know how you feel. Some of the meds my mother takes would be prohibitively expensive if she didn’t have the Part-whatever coverage.
But, that being said, if you starve the goose that lays the golden eggs, new drugs won’t be developed. It’s hard to quantify that which doesn’t yet exist, but you know what I mean.
That being said, without the profit on those very few drugs that are actually able to be brought to market there would be no incentive to do basic research.
I really feel terrible for people in your predicament. Those who have been responsible with their money get screwed and those that saved nothing get everything for free.
Read the book “PHARMOCRACY” by William Faloon for REAL insights into how the FDA keeps reasonably priced drugs AND alternatives AWAY from American’s....eye opener.
Often times the “R&D” is done by the drug company seeking the FDA’s approval...and then given the FIRST licensing rights...and then the FDA helps THAT drug company keep other, lesser priced drugs off the market.
Excuse me, but if plural of “American” is “American’s”, then why not “insight’s”, “drug’s”, and “alternative’s”? Some grammatical exception perhaps?
Oh give me a break....it’s late on Friday night....I don’t have my grammar and punctuation cap on right now...sheesh.
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