NATCO PHARMA BAGS COMPULSORY LICENSE TO SELL BAYER'S CANCER DRUG "NEXAVAR"

The government has allowed a local drug maker to make and sell a patented cancer drug at a fraction of the price charged by Germany's Bayer AG, setting a precedent for more such efforts by Indian firms and heightening the global pharmaceutical industry's anxiety over the use of the controversial compulsory licensing provision. Ruled compulsory licensing which is allowing a generic drug maker to make and sell a low cost version of a patented drug in India under certain conditions, without the consent of the patent holder, by paying royalty.