Hyderabad-based Natco Pharma has sought permission from drug major Pfizer to sell discounted copies of its HIV drug. The rationale behind this move is to facilitate availability of Pfizer's new generation drug at a lower cost, making it far cheaper for patients.
Pfizer's drug sold under the brand name Celsentri costs about Rs 65,000 for a 1-month dosage. Natco expects to make a copy of the drug, which will cost Rs 15,000 for a month's dosage. In an interview with CNBC-TV18, Bhaskar Narayana, Finance Director & CFO, Natco Pharma threw light on the development and spoke on the company's business plans going forward. Q: You have asked permission from Pfizer to be able to clone their HIV drug. When at the earliest are you expecting permission from the company and if it is coming at the terms which you have asked, what will it leave on the table for you? A: This is a unique situation and this kind of permission is being sought for the first time in the country. In the initial stages, we need to get the permission from the innovator to sell their patented drug in India, the payment for which would be on royalty basis. We have made an application to Pfizer and they have some time to reply. I think they have six months time to reply. So by the end of May we should be able to hear from them. If it is not some sort of an agreed formula between both the companies, then we have to apply for what is called compulsory licencing wherein the government will also be a party to the negotiations. The essence of the provision is to facilitate availability of new generation drugs at a lower cost. Q: Could you tell a bit more about this HIV medicine? What kind of sales it had in the US markets just to assess the kind of market opportunity you all will have provided you can sell discounted copies of that? A: ItDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
