|Chennai||Rs. 27580.00 (0.18%)|
|Mumbai||Rs. 28700.00 (0%)|
|Delhi||Rs. 27700.00 (0.73%)|
|Kolkata||Rs. 28270.00 (0%)|
|Kerala||Rs. 27050.00 (0.74%)|
|Bangalore||Rs. 27350.00 (1.11%)|
|Hyderabad||Rs. 27660.00 (1.21%)|
The appellate authority for intellectual property has approved the Indian patent office's decision to grant the country's first compulsory licence to a Hyderabad-based firm to manufacture and sell in India a drug used to treat renal and liver cancer, whose global patent is held by the German pharmaceutical company Bayer. Reportedly, what mattered to the authority was affordability: while the Indian firm, Natco Pharma, will be able to price its product at a monthly cost of Rs 8,800 to the patient, the comparative cost for a similar drug from Bayer is a colossal Rs 2.8 lakh. At that cost, only a handful of Indians would be able to afford the medicine. This may not even be the revenue-maximising price for Bayer, but that does not seem to be Bayer's main concern. In its first reaction, the firm has said that the legal decision will weaken the international patent system and endanger pharmaceutical research. On the other hand, Indian civil society groups have reacted positively to the legal decision. They hope that the decision will pave the way for other compulsory licences to be issued to make many available cures affordable for large numbers of Indians.