Novartis loses Indian patent battle,Cancer drugs to remain affordable
New Delhi- In a landmark verdict, the Supreme Court of India dismissed a plea by the Swiss pharmaceutical giant Novartis on Monday for a patent on its cancer drug Glivec, paving way for more affordable life saving cancer drugs. Novartis had sought to overturn a clause in Indian Patents Law that restricts patent protection for newer forms of existing molecules, and the ruling could set a precedent for how other similar patent claims are treated.
Drug companies in India can now roll out a generic version of the drug, which can cost about Rs 10,000 a month – slashing the price by almost 92 per cent. India’s domestic drugs market is the 14th largest globally, but with annual growth of 13-14 per cent and the world’s second biggest population, it has massive potential at a time when traditional developed markets have slowed down.-Read More-NDTV