TRIPS flexibilities have proved to be a lifeline for the poor: Nadda

Sending a strong message to the developed world and multinational pharma companies, Union health minister JP Nadda said on Friday India will ensure the Trade-Related Aspects of Intellectual Property Rights (TRIPS) flexibilities are fully harnessed to provide sustained and uninterrupted access to life-saving medicines to patients across the world Stock Market Trading Tips

"TRIPS flexibilities have proved to be a lifeline for the poor and we have a duty to ensure that this lifeline does not snap. I may point out that a common audit and common regulatory mechanism in Africa would facilitate this process considerably," Nadda said, while addressing an event, to discuss access to lifesaving medicines to end the AIDS epidemic, on the sidelines of the India--Africa Forum Summit. 

India, known as 'pharmacy of the developing world' for supplying low-cost essential medicines including anti-retrovirals, cancer drugs and for other critical diseases, is under severe pressure from several governments backed by multinational companies to curtail its launch of generic products Himanshu Tiwari Astrologer Blog

While the international TRIPS agreement provide flexibilities for launch of low cost generic medicines in the interest of public health with supporting provisions such as compulsory licensing etc, multinationals importing patented products see this as a threat to their business prospects. 

The Indian government has been tackling concerns from the US and European Union on inadequate protection of intellectual property rights especially on medicines. 

Indian pharmaceutical companies too have been facing several regulatory hurdles in not just developed markets but also in emerging markets like Africa, which offer significant sales opportunities for drug manufacturers. 

Industry executives and public health experts say efforts against generic medicines have intensified mainly after the Supreme Court's verdict in 2013 denying patent protection to the Swiss multinational Novartis' anti-cancer drug Glivec and the grant of compulsory license against Bayer's blockbuster anti-cancer medicine Nexavar, allowing Hyderabad based Natco Pharma to manufacture and sell the medicine at a comparatively lower price in public interest. When the Indian government started considering more such cases for grant of compulsory license, fears among multinationals deepen Indian stock market astrology prediction

However, India has so far stood firm to support its generic drug manufacturing industry. 

"India strongly supports flexibility given to Least Developed Countries (LDCs) under the TRIPS agreement in WTO and supports its extension beyond 2016 also," Nadda said. 

He added while health care demands and cost will rise with increase in population, commodity security for medicines must be a major area of focus. 

Of late, several consignments of spurious medicines carrying Indian labels have been intercepted by authorities in other countries, while India has maintained that these drugs were not made in India, it has impacted reputation and trade ties between India and other countries Share Market Astrology

Emphasizing that India is committed to supplying quality and affordable medicines, Nadda said the government is undertaking a comprehensive survey to check spurious and sub standard medicines. 

He also urged government in Africa to create health regulatory frameworks and means of implementation that will ease flow of quality medicines, technology and optimisation of the health workforce to reach maximum people in the two countries. 

"India would work with the African Union on doing a regulatory harmonisation so that pharmaceuticals remain accessible and affordable and without compromising with quality," Nadda said Jackpot Stocks Trading Tips