-The Indian Express The 612 Indians on the list of those who have invested in tax havens such as the British Virgin Islands include two MPs, a former royal and top industrialists. RITU SARIN puts together details of 20 among them SONU LALCHAND MIRCHANDANI Mirchandani is the founder of popular consumer electronics firm Onida. Mirchandani and his wife, Soni, opened a BVI company called Strong Wing Overseas Ltd in 2006 with an authorised...
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When innovation is under threat-Swati Piramal
-The Financial Express A patent law that is transparent, based on principles of good science & encourages innovation is in India's interest In 500 BC, in the Greek city of Sybaris, it was proclaimed that "encouragement was held out to all who should discover any new refinement in luxury, the profits arising from which were secured to the inventor by patent for the space of a year." England followed with the Statute...
More »Domestic firms rejoicing on Glivec verdict-Sushmi Dey
-The Business Standard Now, local firms can sell their low-priced generic version of the drug in India and export it to developing markets, where it is not patented Domestic drug firms such as Cipla, Natco, Ranbaxy and Hetero are a happier lot following the Supreme Court verdict on Monday, dismissing Novartis AG's patent plea for anti-cancer drug imatinib mesylate or Glivec, as sold by the Swiss drug maker. This is because the judgement...
More »SC’s Glivec ruling setback to foreign pharma firms -Vidya Krishnan and CH Unnikrishnan
-Live Mint SC rejects Novartis's patent plea for Glivec, says it does not meet any standard of novelty or inventiveness In a landmark judgement, India's apex court rejected Swiss drug maker Novartis AG's legal challenge aimed at securing a patent for blockbuster anti-cancer drug imatinib mesylate, branded Glivec in the country. The verdict, which is seen as a setback to multinational pharmaceutical companies operating in India, may influence a rash of pending disputes...
More »Novartis case may make foreign firms more wary of Indian drugs market-Ravi Ananthanarayanan
-Live Mint SC judgement may not open a floodgate of revenues for local pharma firms; nevertheless, it is a psychological win The Supreme Court has dismissed an appeal by Novartis AG to revoke denial of a patent to its cancer drug Glivec. The judgement is important because multinational companies (MNCs) can be denied patent protection on improved drugs unless they can prove the medication has better efficacy. Although this decision will displease...
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