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Mar 05, 2013, 08.56 AM IST | Source: PTI

India rules against Bayer in cancer drug patent case

An Indian patent appeals board dismissed on Monday Bayer AG's petition against a government decision to allow a domestic company to sell cheap copycat versions of cancer drug Nexavar, delivering a blow to global drugmakers' monopolies on high-priced medicines.

An Indian patent appeals board dismissed on Monday Bayer AG's petition against a government decision to allow a domestic company to sell cheap copycat versions of cancer drug Nexavar, delivering a blow to global drugmakers' monopolies on high-priced medicines.

Last year, the Indian patents office, under a mechanism called "compulsory licence", allowed Natco Pharma to sell generic Nexavar at 8,800 rupees (USD 160) for a month's dose- a fraction of Bayer's price of 280,000 rupees.

Bayer challenged this decision with the Intellectual Property Appellate Board (IPAB) in the southern city of Chennai.

Although dismissing the petition, the board did order Natco Pharma to pay a royalty of 7 percent on sales of generic Nexavar to Bayer, an increase from the 6 percent royalty that had earlier been set.

Bayer CropScien stock price

On October 31, 2014, Bayer CropScience closed at Rs 2321.50, up Rs 28.75, or 1.25 percent. The 52-week high of the share was Rs 2710.00 and the 52-week low was Rs 1378.00.


The company's trailing 12-month (TTM) EPS was at Rs 84.71 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 27.41. The latest book value of the company is Rs 475.80 per share. At current value, the price-to-book value of the company is 4.88.

READ MORE ON  Bayer, patent, cancer drug, Nexavar
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