Indian Generic Makers Offer 4% Of Turnover In Royalty Under New Patent Regime

Law360, New York (July 27, 2004, 12:00 AM EDT) -- In a move designed to offset a broadside of litigation when India adopts product patents in 2005, India’s generics industry has offered to pay 4% of their turnover as royalty to drugs’ originators.

The Indian Drug Manufacturers' Association made this offer in a note to the department of industrial policy and promotion, which handles intellectual-property policy matters, India’s Economic Times reported Tuesday.

The move comes amid reports global drug makers are planning an onslaught of lawsuits against Indian generic makers to shut down the entire industry...
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