Home Page
An experienced guide to the world of finance
providing tools and information that help make
best financial decisions
My FinanceGates.com Register
 
Home  | News   |  World News 



Market News Insurance Billing
Banking Business News World News
Funds Brokerage

Thursday March 24, 08:46
All disputes about India’ Law on Drug Patents
(by Brigitta Zulfitzler)

India’s Parliament approved on Wednesday the bill which prohibits domestic drug companies from producing low-cost copies of expensive Western medicines, while India has 5.1 million HIV-infected people in extreme need of that treatment. By passing the new law, India tries to create all conditions for joining the World Trade Organization.

However, the law appeared not as limiting as the drug activists had feared.

"It’s very disappointing, but it could have been worse," said Daniel Berman, a coordinator of the global access campaign for the medical charity Doctors Without Borders. "All generics could have been removed from the market."

But relatively severe criteria for such copying can cause a rise in prices, predicted some activists. In such circumstances the only party that seems to profit from the law is multinational drug companies.

Royalties to be paid by generic producers to the patents holding companies also arouse great concern of the public. The new law does not provide any collar for royalty rates, as is done in many western countries.

"The government will have enormous powers to deal with any unusual price rise," said Commerce Minister Kamal Nath. But reality proves that the hard-lined market system very often turns such promises into leaves without figs.

All world news
Read the related news and articles:
28 Apr 2005 09:04 AM Central bank of India raised rates
20 Apr 2005 12:09 PM Blast in Kashmir kills two people, wounds 15
12 Apr 2005 01:10 PM India and China take a step to enclosing
11 Apr 2005 01:40 PM India-China to "open a new chapter" in friendly relations
29 Mar 2005 07:15 AM Update 1: India reumes pipeline talks with Pakistan
 


   KEYWORD SEARCH

KEYWORDS:

   SUBSCRIPTION
Join FinanceGates.com mailing list and get news and financial advices on home finance, auto finance, insurances, funds, online payments and much more.


Copyright © FinanceGates.com - independent financial advice and personal finance advice, an InternetGates.com company, 2003-2012. All rights reserved.
Finance Gates provides personal finance advice on banking, insurance, investing and billing.
Reading materials of this site you can be sure that you get independent financial advice.