Thank you to my colleague Sebastian Derwisch who brought this story to my attention last week. These links are both about the recent settlement between Ranbaxy Laboratories Ltd of India, and the drug giant Pfizer over the blockbuster cholesterol drug “Lipitor”. The deal gives Ranbaxy the licences it needs to sell generic versions of Lipitor (for varying dates in varying territories.)
Ian Read, president of Worldwide Pharmaceutical Operations for Pfizer said:
“This agreement is a win-win-win because it is pro-patient, pro-competition and pro-intellectual property…… Without patents and rigorous defense of intellectual property rights, innovators would face significant challenges that could inhibit the discovery of new medicines.”
Patent infringement litigation will continue in 5 European countries.