HindustanTimes Fri,18 Apr 2014

Novartis India says will continue to file for patents

Reuters  Mumbai, April 01, 2013
First Published: 15:22 IST(1/4/2013) | Last Updated: 15:23 IST(1/4/2013)

Novartis India Ltd, a unit of Swiss drugmaker Novartis AG, will continue to file for patents in India, its vice chairman said on Monday, after the the Supreme Court rejected its plea for patent protection of its drug Glivec.


Novartis India will also continue to invest there, but with caution, Ranjit Shahani, who is also the managing director of the company, told reporters after the Supreme Court judgment.

Earlier on Monday, the court dismissed Novartis' petition seeking patent protection for cancer drug Glivec, a serious blow to Western pharmaceutical firms who are increasingly focusing on India to drive sales.

more from Business

Rajat Gupta to surrender on June 17 in insider trading case

Gupta was convicted in June 2012 on securities fraud and conspiracy charges for having fed tips, from Goldman board meetings in the second half of 2008, to longtime friend Raj Rajaratnam, founder of the Galleon Group hedge fund firm.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved