Government-owned oil marketing companies (OMCs) may witness a 52% jump in losses on account of selling fuel below cost at state-mandated prices to Rs.2 trillion in the next financial year, said R.S. Butola, chairman, Indian Oil Corp. Ltd (IOC), the nation’s largest fuel retailer. Such an increase will impact the financials of government-owned OMCs such as IOC, Hindustan Petroleum Corp. Ltd (HPCL) and Bharat Petroleum Corp. Ltd (BPCL), which currently register...
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Natco gets India’s first compulsory licence-CH Unnikrishnan
In a landmark decision, India’s intellectual property office on Monday allowed Hyderabad-based Natco Pharma Ltd to make and sell a copycat version of German drug maker Bayer AG’s patented cancer treatment Nexavar. It’s the first time that an Indian company has been granted the so-called compulsory licence to market a generic version of a patented drug. The drug, patented by Bayer in India in 2008, is used in the treatment of...
More »Multiple challenges facing women in agriculture gain focus-Maitreyee Handique
An international conference on agriculture beginning here on Tuesday will debate the multiple challenges faced by women in farms across developing economies, including finding gender-sensitive solutions to reduce drudgery involved in farm work with better technology innovation. From sowing to selling farm products, women’s role in agriculture has been globally recognized, A. Ayyappan, director general of Indian Council of Agricultural Research (ICAR), told reporters on Monday. The three-day conference will address...
More »Anil Bairwal, National Convenor of Association for Democratic Reforms (ADR) and National Election Watch (NEW) interviewed by rediff.com's Vicky Nanjappa
A recent report put out by the Association for Democratic Reforms and National Election Watch revealed that 47 per cent of the newly-elected Uttar Pradesh assembly has candidates with criminal cases pending against them. Barring Manipur, none of the other four states that went to polls is free of a tainted MLA. In Uttar Pradesh, the number of criminal MLAs has gone up from 37 per cent in 2007 to 47...
More »India's patent ruling on cancer may open door for cheaper HIV drugs
-Reuters India's move to strip German drugmaker Bayer of its exclusive rights to a cancer drug has set a precedent that could extend to other treatments, including modern HIV/AIDS drugs, in a major blow to global pharmaceutical firms, experts say. On Monday, the Indian Patent Office effectively ended Bayer's monopoly for its Nexavar drug and issued its first-ever compulsory license allowing local generic maker Natco Pharma to make and sell the drug...
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