MNCs working against Indian drug firms

Tags: Drugs, MNCs, News
India today complained to the UN intellectual property rights body, WIPO, that some multinational firms have launched campaign against country's pharmaceutical industry, which has broken their "cartel" in the generic drugs.

"We know how the campaign was there.(They) still continue to misinform, mislead and confuse when it comes to the Indian generics, which have brought a major change in the world," Commerce and Industry Minister Anand Sharma informed Francis Gurry, the Director General of Geneva-based World Intellectual Property Organisation (WIPO), here.

Several consignments of off-patent generic drugs by Indian firms have been seized in the recent past in Europe on way to destinations like Brazil and some African nations.

While these are off-patent drugs, some of the European nations have confiscated alleging they violated their IPRs.

"There was a time when there was suffocating stranglehold of multinational drug cartels in the anti-retrovial drugs for HIV AIDS," Sharma said.

It was the Indian pharmaceutical firms which have brought down the annual HIV AIDS treatment cost from USD 11,000 to USD 400, he said at a meeting jointly organised by the ministry, WIPO and the FICCI.

Africa and Latin America are major markets for India's low cost drugs used for treatment of HIV/AIDS, tuberculosis and malaria. The two continents account for around 15 per cent of India's total pharmaceutical exports of about Rs 40,000 crore.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

FC NEWSLETTER

Stay informed on our latest news!

EDITORIAL OF THE DAY

  • Retail investors need to be drawn to bond trading

    A country requires both a healthy capital market and a liquid debt market for vibrant economic growth. India has had the first for a long time.

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Japan’s living national treasures

While the world is fascinated by the economic “miracles” in ...

Robert Clements

Cherish good times and accept bad ones

Initially, I was angry and confused, I was even repentant…,” ...

Bubbles Sabharwal

Mothers just see things differently; they can’t help it

Before we begin on mothers, I have to share this ...