Natco Pharma Files Application Seeking Compulsory License For COVID Drug Baricitinib

first_imgNews UpdatesNatco Pharma Files Application Seeking Compulsory License For COVID Drug Baricitinib LIVELAW NEWS NETWORK4 May 2021 11:48 PMShare This – xIndian generic drug manufacturer Natco Pharma Limited has filed an application before the Controller of Patents seeking compulsory license to produce the drug ‘Baricitinib’ which is used for treatment of COVID-19.Natco filed application under Section 92(1) read with 92(3) of the Patents Act seeking compulsory license to produce ‘Baricitinib’ at an affordable rate amid the second wave of the COVID pandemic.Advertisement Section 92 is a special provision in the Patents Act empowering the Patent Controller to issue compulsory license to any interested person to manufacture a patented drug to meet a public health emergency.In the application filed before the Mumbai branch of the Patents Controller, Natco says that patent of ‘Baricitinib’ was granted to a company named Incyte Holdings Corporation in 2018.Natco says that the present production rate of ‘Baricitinib’ – which is approved for emergency use in India along with Remdesivir- is not adequate to meet the demands of surging COVID cases, and that vast majority of Indians cannot afford its expensive price. Advertisement It is pointed that the drug is being produced in India at a low quantity – 8870 tablets in 2019 and 8385 tablets in 2020- and that the average cost per tablet is Rupees 3230 per tablet. For a 14-day treatment, the price works out to INR 45,220.00 per patient. In contrast, Natco offers to sell the drug at Rs.15, Rs 20 and Rs 30 per tablet for its 1 mg, 2mg and 4g variants respectively.It is also said that the present patent holder has a narrow distribution network in India which cannot address the demands surging from different parts of the country.Advertisement Advertisement It is pertinent to recall that Natco is the first pharma company in India to be granted compulsory licensing for a drug in India. That was with respect to a life-saving drug for kidney cancer, which was held by a German company named Bayer. Natco also won the litigiation instituted by Bayer to challenge the grant of compulsory license to it.Last week, the Supreme Court had urged the Central Government to explore the option of compulsory licensing to make COVID-19 drugs more affordable and reachable. The Delhi High Court has also made similar observations.Advertisement Advertisement Advertisement With respect to ‘Baricitinib’, Natco offers to pay 7% royalty on net profits to the patent holder. It undertakes to give preference to patients in the economically weaker sections,government (both central and state government) welfare schemes and in remoter areas of the Country. In deserving cases, Natco said it will sell the drug free of cost.On May 3, the Central Drugs Standard control Organization granted Natco Pharma received emergency use approval for Baricitinib tablets, 1 mg, 2 mg and 4 mg strengths.TagsNATCO Pharma Compulsory Licence #Patents Act COVID19 Baricitinib Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

NBA chooses All-Star reserves, with Zion among first-timers

first_img Associated Press Tags: All-Stars/Donovan Mitchell/NBA/NBA All-Star Game/Rudy Gobert/Zion Williamson Written by February 23, 2021 /Sports News – Local NBA chooses All-Star reserves, with Zion among first-timers FacebookTwitterLinkedInEmailNew Orleans forward Zion Williamson now can be called an NBA All-Star, and only three others in the game’s 70-year history have gotten there at a younger age.The reserves for the March 7 game were revealed Tuesday.Williamson is one of four first-time All-Stars, along with Boston’s Jaylen Brown, New York’s Julius Randle and Chicago’s Zach LaVine.Phoenix’s Chris Paul is an All-Star for the 11th time, and Brooklyn’s James Harden is one for the ninth consecutive year.Philadelphia’s Ben Simmons, Boston’s Jayson Tatum, Orlando’s Nikola Vucevic, the Los Angeles Lakers’ Anthony Davis, the Los Angeles Clippers’ Paul George, Utah teammates Donovan Mitchell and Rudy Gobert, and Portland’s Damian Lillard were also picked.last_img read more

Rightmove’s record-breaker: over 6,000 visits by homebuyers every minute

first_img A new record has been set on Rightmove, with more than 9.1 million visits in one day – an average of almost 6,320 visits every minute.With the Stamp Duty holiday extended to the end of June and the exodus from cities continuing apace, the website has seen unprecedented activity.The spring selling season has started at a level not seen in a decade, with the highest number of sales being agreed on 23 March than at any time in the past 10 years, according to the portal.New sellers have also sprung into action, with the highest daily number of new properties going on the market so far this year.Rightmove’s Tim Bannister said: “The promise of better weather on the way as we move in to spring, hopefully an easing of restrictions, and kids now back in school have all helped boost listing numbers. Agents are reporting a frenzy of activity in some areas, with multiple offers from buyers at asking price and above.“Record numbers of home buyers are also visiting our site as many of us search for more room for working from home or a property with some outside space or a garden.”Number of buyers ‘doubled’One agent in Saffron Walden reported how they arranged 18 viewings within 24 hours of a £1.2m property going on the market. Cheffins’ director Bruce King said the number of London buyers looking to move to the Essex market town had more than doubled since this time last year.“The past few months has been one of the busiest markets we have seen in years as the combination of lockdown, the stamp duty holiday and the 5% mortgage scheme has created the perfect conditions for buyers to look to move house. We have seen bidding wars on multiple properties,” he said.Rightmove believes it has also seen signs of more home-owners selling up and moving into rental properties, so they are in a stronger buying position to buy.Jump in chain-free homesCompared with last year there has been an increase from 15% to 21% in the proportion of available properties up for sale on Rightmove that are chain-free.The shift is most marked in London, where the percentage of chain-free homes has jumped from 12% this time last year to 21% now.Vendors may also be taking advantage of securing the best price for their home while the stamp duty holiday is in place as an incentive for their buyers, and others who have chosen to move out of a city may be planning to rent first to make sure country life is definitely for them, says Rightmove’s Bannister.“The flexibility of renting gives people the chance to ‘try before you buy’ in a new area, so those who have chosen to move to the countryside may be selling their house chain-free to then rent and take time to decide if the good life is definitely for them,” he said.“Selling chain-free is perhaps something some owners hadn’t considered as a possibility before now, but with the competitive market and stock shortage we currently have they’re trying to put themselves in a more attractive position when their dream home comes along.“In the Capital there are also some landlords who are selling up now, which could open up an opportunity for some first-time buyers looking for their first home.”Rightmove frenzy Stamp Duty holiday housing market homes for sale April 6, 2021Richard ReedWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Housing Market » Rightmove’s record-breaker: over 6,000 visits by homebuyers every minute previous nextHousing MarketRightmove’s record-breaker: over 6,000 visits by homebuyers every minuteProperty portal sees unprecedented level of activity as extended Stamp Duty holiday and flight from city creates buying frenzy.Richard Reed6th April 20210691 Viewslast_img read more