NATCO Granted Compulsory Licence for Nexavar
First of its kind, a landmark order
Mar 12th 2012
The Hyderabad based NATCO Pharma Limited is pleased to announce the granting of a compulsory licence to it, under the provisions of Section 84 of the Indian Patents Act, 1970 for Sorafenib Tosylate (Brand Name : Nexavar owned by Bayer Corporation). Nexavar is the first-line treatment for liver and kidney cancer.
The Compulsory License, first of its kind granted, enables NATCO to sell the drug at a price not exceeding Rs. 8880 for a pack of 120 tablets (one month’s therapy) against Rs. 284,428 being the cost of Naxavar sold by Bayer. The license is valid till the expiry of the patent – 2021.
The order is subject to certain conditions such as maintaining account of sales, and payment of royalty at 6% of the net sales on a quarterly basis etc. The order also makes it obligatory for NATCO to supply the drug free of cost to at least 600 needy and deserving patients per year.
NATCO welcomes this order and opines that this opens up a new avenue of availability of life savings drugs at an affordable price to the suffering masses in India.
Posted: March 2012
Recommended for you