Indian Rupee sliding.....

Rupee is under serious pressure.  Dropped from Rs 44 for a dollar in August 2011 to almost 55 in early May 2012 especially the rate of fall , after a pulling back above the Rs 49 mark during Jan-March 2012. The slide perhaps contributed to S& P decision to downgrade India’s outlook and current balance of payment situation. The Current account deficit likely to hit more than 4% of GDP and a worsening trade gap complicating the situation further. The trade gap likely to widen further as one of the biggest forex earner, the IT industry seems to be loosing its shine.

With a high external debt repayment in next several months and possible portfolio outflow, seems we are moving to a crisis situation as far as value of INR is concerned.

Roche to sell cheaper cancer drugs in India

Just days after officials in India stripped Bayer of its exclusive rights to Nexavar, giving a local company NATCO the right to produce it at a deep discount,

Roche has stepped up with plans to slash the cost of two of its blockbuster cancer drugs.  Herceptin and MabThera will be offered in cheaper new versions from an Indian partner.

original report

Indian Patent office invokes compulsory licensing rule, Natco to sell generic version of Nexvar

Bayer has lost a landmark drug ruling in India, forcing it to grant a compulsory licence for its cancer treatment Nexavar to Natco Pharma in a move that could bring down the cost of other pricey medicines.

The Indian Patent Office issued its first ever compulsory licence to Natco, a local generic drug manufacturer, effectively ending the German drugmaker's monopoly in India on the drug for treating kidney and liver cancer. Natco has been allowed to sell the drug at a price not exceeding Rs 8,880 for a pack of 120 tablets required for a month's treatment as compared to a whopping Rs 2.80 lakh per month charged by Bayer for its patented Nexavar drug.

As per WTO agreement, a compulsory license can be invoked by a national government allowing someone else to produce a patented product or process without the consent of the patent owner. It is done for the cause of public health. The move, however, will unnerve international pharmaceutical companies. They are eyeing emerging markets like India as a major growth opportunity but remain worried about intellectual property protection in such countries.

BW,BS