Now, U.S. wants to control the cancer medication pricing in India too. But, India’s strong decision to not bow down to Barack Obama administration’s demand of increasing the price of generic cancer drug Nexavar, gave a jolt to Washington.
Deputy Director of the U.S. Patent and Trademark Office (PTO), Teresa Rea has been repeatedly pushing India’s government for approving the generic drug, calling India’s refusal to price hike an egregious violation of World Trade Organisation treaties. The White House’s persistent efforts to protect drug firm Bayer AG revenues even in developing nations such as India, is hard to believe in the context.
After India’s firm decision, Indian pharmaceutical Natco Pharma obtained permission to sell the generic drug and pay a royalty of six per cent on the revenue derived to Bayer.