1st April 2013, 11:51 PM
India rejects Novartis patent
Bad news for Novartis (Swiss pharmaceutical firm).
Good news for poor cancer patients in India and elsewhere too, as India will make generic medicine Glivec cheap.
Good news for Singapore.
India sees it as evergreening. This term is used to describe a company making very slight changes to a product just when the old patent is about to expire. Then they get a new patent. They will continue doing this in perpetuity - hence the term evergreening. This is to ensure very high profits forever. In this case, the product is a medicine for cancer treatment.
This explains why USA medical costs are astronomical. Pharmaceutical firms got powerful Washington lobby.
Singapore will benefit as giant pharmaceutical firms will invest R&D and manufacturing here. Where their IP is respected.
There is no right or wrong in this issue. It just depends of where you stand.
Have to balance earning returns on years of R&D investment - against - saving or curing millions of terminally ill patients from dread disease.
Last edited by ricohflex; 2nd April 2013 at 06:15 PM.