Pharma Industry Split Over Nod to Natco Pharma Limited to Sell Bayer AG (BAY.F)'s Cancer Drug; Verdict Opens Door for Cheaper Drugs
3/13/2012 7:46:24 AM
The decision to allow Natco Pharma to sell Bayer's patented cancer drug Nexavar has divided the pharmaceutical industry with domestic firms welcoming it while multinationals said 'arbitrarily' using of compulsory licenses will undermine innovation in the sector. Disappointed with the development, Bayer said it is evaluating options for its next step. "We are disappointed by the decision of the Patent Controller in India to grant a compulsory license for Nexavar. We will evaluate our options to further defend our intellectual property rights in India," a Bayer Spokesperson said.