At the international Aids conference earlier this week a UK academic used a chart to point out the profits and tax-avoidance practices of pharmaceutical giants. He noted Pfizer held $69 billion (€59bn) of taxes offshore, thus avoiding $20 billion in US taxes. Merck, he said, had $57 billion offshore, and avoided $16 billion in US taxes.
In Brussels, the European Commission has tabled a proposal late in its term that would weaken the incentive to produce new medicines and the jobs that come with them. The change, under discussion at meetings this week in Brussels, would mean a shortened patent protection period for new medicines, allowing for copies to be produced by generic manufacturers for export to countries outside the EU.
India’s largest biopharmaceutical firm Biocon announced that consolidated net profit rose 47% for the three months ended June 30 compared with the year-earlier period driven by growth in its biologics and research services business.
(Reuters) – A U.S. appeals court on Friday ruled invalid patents owned by Jazz Pharmaceuticals PLC covering its narcolepsy drug Xyrem, giving Amneal Pharmaceuticals Inc a boost in its effort to launch a generic version of the medicine. The U.S.
A ruling from the U.S. Patent and Trademark Office pushes Novartis’ exclusivity on Gilenya from 2019 to 2027. That will give Celgene more time to secure FDA approval for its Gilenya rival and persuade physicians that it’s a safer alternative to Novartis’ multiple sclerosis blockbuster.
China is preparing to give swift regulatory approvals to India-manufactured drugs, the head of an Indian export promotion group said, as Beijing looks for new commercial partners ahead of what could be a protracted trade war with the United States.
Patients’ rights advocates in India on Tuesday filed two oppositions in the Indian patent office, challenging patent claims by the US pharmaceutical company Gilead Sciences for its medicines sofosbuvir and velpatasvir, used to treat hepatitis-C infections.
After an inspection of the drug manufacturing plant of Dr Reddy’s Laboratories (DRL) at Srikakulam in Andhra Pradesh that spanned nine days, inspectors of the United States Food and Drug Administration (USFDA) issued two adverse observations on April 4, 2017.
I read with interest your article (Antibiotics crisis made worse by shortages in supply, 1 June) on the Access to Medicine Foundation report into this topic. Its excellent report highlights an important problem. A failing supply chain along with a lack of investment in new antibiotics is already causing major health problems across the world, and this will only get worse.