Search
      Channels
  News
  Home Loans
  Commercial Loans
  Insurance
  Credit Cards
  Calculators
  NRI Center
     Investment
  Mutual Funds
  Stock Research
  Market Tools
  Special Reports
  Fund Focus
  Company Focus
  Sector Focus
  Interviews
     Services
  Greetings
  Message Board
Partners
Home -> Finance -> Full Story
Haddad warns India of subtle games of pharma MNCs
Friday, December 12 2003 21:20 Hrs (IST)

Mumbai: Father of generic industry, William F Haddad today (Dec 12, 2003) cautioned Indian bureaucrats and politicians not to get carried away by the 'subtle games' played by the multinational drug companies with respect to drug pricing before the product patent regime comes into force in 2005.

Warning them to be aware of MNCs' games in directly or indirectly influencing country's legislations for drug pricing, Haddad, founder of Generic Pharmaceutical Industry Association, said MNCs' only weapon is "patent law".

"MNCs are trying to play the same old dirty tricks to keep up the monopoly in drug pricing by getting on with the patent law," he told media at the Indian Drug Manufactures' Association in Mumbai.

"If Indians are not vigilant and they succumb to MNC pressure, they (Indians) will end paying several times more for the same drugs which they enjoyed for a lower price when the product patent regime will take over after 2005," he said.

The entire 'third world' is looking at India for breaking this barrier of monopoly by the multinationals in order to offer lease of life to millions of people who are dying for want of medicines, he said adding, India should make sure it remains a pharma supplier to all the poor nations till 2016 as per World Trade provisions.

"In fact, Indian pharma companies, who have proved their acceptance in several countries for quality drugs at lower prices, pose a real threat to the MNCs," he said adding, it was evident especially after the Indian pharma major Cipla showed the competitive pricing of its AIDS drug in the world market.

PTI