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Will not invest on R&D in India, says Novartis

Last Updated: Monday, April 01, 2013, 18:19

Swiss pharma major Novartis Monday said it will not invest on research and development in India and move R&D to favourable destinations following the Supreme Court order rejecting its patent plea on cancer drug Glivec.

SC decision on Novartis to benefit poor patients: Pharma cos

Last Updated: Monday, April 01, 2013, 15:09

Novartis, however, said: "This ruling is a setback for patients that will hinder medical progress for diseases without effective treatment options".

Supreme Court rejects Novartis cancer drug Glivec patent plea

Last Updated: Monday, April 01, 2013, 09:27

Glivec, used in treating chronic myeloid leukemia and some other cancers, costs a patient about Rs 1.2 lakh/month, much higher than Rs 8,000 which is the price of the generic drug.