Under TRIPS agreement, protection was provided to patented drugs which were discovered after 1995. There have been many patent wars between the low cost generics producing Indian pharma companies and the MNC’s. Indian government has provided substantial support to the local pharma companies helping them gain a stronghold in India and also enter the business globally. Recently, the supreme court of India had rejected the appeal of the Swiss pharma major, Novartis. The court had classified the drug as an incremental innovation done to extend the life of the patent.
What duties do directors owe the corporation which they serve? In this case, CPI and GM are competitors. Both of them are pharmaceutical companies. However, CPI is suffering from low sales due to fierce competition. On the other hand, GM is an insolvent company who is famous for its innovative use of lagundi leaves in its cough syrup.
Implications: Most drug companies will ask for compulsory licenses if the patent holder doesn’t supply the drug at the affordable price and required demand. This move will encourage other developing countries to go CL for life-saving drugs. The judgment was fair because pricing a lifesaving drug at such an exorbitant price goes against the motto of the patent owner “Science for a better life”. The court questioned “What is the use of science if it can’t save the life of common people?” 2) Novartis vs Natco: Relevant section: Section 3(d) of Patents act 1970. Glivec an anti-cancer drug manufactured by Novartis.
Valeant Pharmaceuticals, led by Michael Pearson (the CEO of Valeant Pharmaceuticals), strategy was to create a drug giant that focused on distribution and let someone else do the research. The plan was questionable and required rapid acquisitions to make it work. So Pearson stared to buy up rival drug companies, fire his staff and enhance R&D (research and development). As a result, the company suffered from huge debts but on the other hand, the plan seemed to work, rising Valeant’s stocks by 260 dollars. (Gandel, 2015) However, in October 2015, it was alleged that Valeant’s success was mainly because of price gouging and fraud.
A set of tobacco laws and regulations have been set in several countries around the world, leaving companies with very little alternatives and possibilities towards their marketing and publicity campaigns. One of the companies affected by this is British American Tobacco. During this essay I will analyze if they adapted their policies towards the new regulations and managed to generate profit and still be one the leading tobacco multinationals in the world. My personal negative opinion about smoking, brought in my curiosity on how amazing it is how these companies manage to overcome their threats and construct a profitable business despite their enormous cost quantities. So for this reason, this essay will explore if and if so how BAT is able to dodge these laws and payments to governments and still be successful, or not.
The government is helps with funding and regulates what can be used. There has been a lot of criticism that not enough research has been done on program effectiveness when it comes to mental health. Over the decades we have noticed an increased of patients with mental disorders. Newman (1994) writes that until recently, clinical psychologists have tended to ignore and not pursue mental health services research. This has been a direct result of the limitations in methodological training that psychologists receive and a bias against such research in the publication standards of the professional and academic literature.
Identifying and promoting innovations are not enough they should understand how it be replicated elsewhere as well. To end this, McKinsey conducted a research in partnership with the World Economic Forum to study the most promising novel forms of health care delivery and in particular to understand how the innovation has impacted its economies. According to research the innovations were not born form developed countries rather it was from emerging markets. Two factors explain the reason first, necessity breeds innovation. Second, because of weakness in the infrastructure, institutions, and the resources of emerging market making entrepreneurs to bypass western models and generate a new solution.
Introduction The case of Big Pharma “Big Pharma” has been facing issues with its controversial marketing, advertising, and sales techniques (Carroll, 2010). The industry’s off-label marketing practices, failure of full disclosure on bad news about products, and undue influence on doctor’s prescription decisions are just a few of the many unethical business practices that have come to light. These have resulted in many believing that companies in the gargantuan pharmaceutical industry have neglected, and perhaps even abandoned, science for salesmanship (Herper and Langreth, 2006). Although the public acknowledges value in the drugs available through pharmaceutical providers, the corporate social responsibilities (CSR) and business ethicality of the industry has been compromised and questioned (Gorrie and Santoro, 2005). Furthermore, the increasing complicity and costs of health care have only served to add strain to the public’s ability to empathise with criticism targeting the industry.
There have been ongoing debates about the limited access to medication and drug development, closed innovation is no longer sustainable in the pharmaceutical industry. Therefore the pharmaceutical industry should introduce ‘open innovation’, whereby organizations should use internal ideas as well as external ideas. This can be done through external and internal channels to generate additional value. With the open innovation, organizations can profit from others’ using their patent or buying other patents to generate profit. The organizations need to realize that they do not have to develop certain drug to profit from it.
Though there was significant progress in different types of industries in India, the domestic pharmaceutical industry somehow lagged behind in reaching higher standards during the British Rule. The pharmaceutical sector was dominated by the multinationals, due to which life saving drugs were available in India a very high price. However, upon gaining Independence from the British the Indian government along with some eminent jurists and policy makers went forward by amending the then existing patent laws which resulted in the enactment of the Patents Act, 1970. The decade of 1970 has been of great importance to the intellectual property regime in India as it abolished product patenting in