Congrats to the Indian Patent Office for granting Compulsory License to Indian pharma company Natco, wherein the latter can now sell a generic version of anti-Cancer drug Nexavar, patented by German pharma major Bayer.
The most notable thing is that Natco will be selling the drug at a price which is very much within the reach of common people (Rs. 8880), in a stark contrast to the price of Nexavar sold by Bayer (Rs. 284,428 ) which is miles beyond the reach of ordinary people.
It is undoubtedly a historic step taken by India for the benefit of its citizens, and deserves warm applause from each and every Indian.
Contrary to what many people may feel, this step taken by India is 100 per cent valid, as it is backed by Trade- related Aspects of Intellectual Property Rights (TRIPS) agreement of World Trade Organization.