Mar 05, 2013, 08.56 AM IST
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 December 05, 2013, Bayer CropScience closed at Rs 1691.50, down Rs 11.35, or 0.67 percent. The 52-week high of the share was Rs 1829.20 and the 52-week low was Rs 1065.05.
The company's trailing 12-month (TTM) EPS was at Rs 322.10 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 5.25. The latest book value of the company is Rs 526.62 per share. At current value, the price-to-book value of the company is 3.21.
Action in Bayer CropScience
Video of the day
Dec 5 2013, 12:20
- in FII View
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.