Indian Gov't Uses Special Powers To Slash Cancer Drug Price By 97%

suraj.sun sends this quote from the Times of India: "In a landmark decision that could set a precedent on how life-saving drugs under patents can be made affordable, the government has allowed a domestic company, Natco Pharma, to manufacture a copycat version of Bayer's patented anti-cancer drug, Nexavar, bringing down its price by 97%. In the first-ever case of compulsory licensing approval, the Indian Patent Office on Monday cleared the application of Hyderabad's Natco Pharma to sell generic drug Nexavar, used for renal and liver cancer, at Rs 8,880 (around $175) for a 120-capsule pack for a month's therapy. Bayer offers it for over Rs 2.8 lakh (roughly $5,500) per 120 capsules. The order provides hope for patients who cannot afford these drugs. The approval paves the way for the launch of Natco's drug in the market, a company official told TOI, adding that it will pay a 6% royalty on net sales every quarter to Bayer."

Comments

Re:Just keep in mind the tradeoff

[zlives]

I wonder: On the opposite side, if the drug companies no longer develop new treatments; would a non profit based entity (govt, charity) do the work? and if they would then perhaps that is whats best for humanity?

Re:Just keep in mind the tradeoff

[Microlith]

1. Advertising actually save money because it encourages more sales.

Thus, advertising gives you cancer. QED.

I have a very rare disease...

[bmajik]

...that can only be cured by the heavenly touch of Natalie Portman's hand upon my forehead.

Without this treatment, I fade in and out of conciousness, slowly losing body weight, muscle mass, and organ function. I have only 6 months to live if I do not get the treatment I need.

I've asked Mrs. Portman many times if there is a way she could lay her hand upon my forehead for the prescribed 8hr sessions 3 times a week. I've offered her all of my money. I've sold my home and my surviving family members have taken up disreputable work.

Alas, she refuses to lower her price, she has told me that she will not help me even if I pay her 1 million dollars per week!

I emplore you, caring people of the modern world. Please won't you save me?

I desperately need Natalie Portman's healing hand to save my life. But I cannot afford the outrageous prices she is demanding.

Can't someone do something?

Re:Just keep in mind the tradeoff

[Ihmhi]

I don't that strategy is viable.

I 100% your post.