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 November 27, 2015, at 12:09 hrs Bayer CropScience was quoting at Rs 3356.95, up Rs 26.45, or 0.79 percent. The 52-week high of the share was Rs 4234.00 and the 52-week low was Rs 2713.75.
The company's trailing 12-month (TTM) EPS was at Rs 100.53 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 33.39. The latest book value of the company is Rs 574.66 per share. At current value, the price-to-book value of the company is 5.84.
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