Another setback: India rejects patent on Pfizer's arthritis drug
Pfizer is reviewing its options for further action, a Mumbai-based company spokesman said in an emailed statement.

Mumbai: India has again denied Pfizer Inc a patent on its rheumatoid arthritis drug tofacitinib, the latest setback for a multinational drugmaker seeking to enforce its intellectual property rights in the country.[caption id="attachment_1621673" align="alignleft" width="380"]
Representational image. AFP[/caption]Pfizer sought a patent that covers an important chemical formulation of the active compound in the medicine, but the Indian Patent Office said the company would have to establish that the compound for which it is seeking a patent is therapeutically more effective than the active compound."The invention disclosed and claimed in the instant application ... is not considered as an invention under the provisions of the Act," Bharat NS, an assistant controller at the patent office, wrote in an order dated 3 September.Pfizer is reviewing its options for further action, a Mumbai-based company spokesman said in an emailed statement.Drug patents have become a thorny issue for global drugmakers seeking to expand in India's fast-growing healthcare market.Companies including Pfizer, Bayer and Roche have in recent years struggled to retain exclusivity on drugs in India, and have blamed patent laws they say are designed to favour the local industry.India, however, has said its drug patents policy is designed to ensure medicines remain affordable for the country where less than 15 percent of the population has health insurance.The country's patent office had rejected Pfizer's application to patent tofacitinib in 2011, but was ordered to reconsider the decision by the Intellectual Property Appellate Board, after Pfizer appealed.Reuters

Air India to cut Delhi-Toronto flight time by 3 hours, resume non-stop services from August 1
South Korea economy grows faster than expected in Q2 as chip exports power recovery
India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin
Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill
Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

