Financial Daily from THE HINDU group of publications
Wednesday, Jan 18, 2006
Financial Daily from THE HINDU group of publications Wednesday, Jan 18, 2006 |
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Industry & Economy
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Pharmaceuticals IPA writes to Foreign Secretary on Pfizer chief's statements Our Bureau
New Delhi , Jan. 17 THE Indian Pharmaceutical Alliance (IPA), the apex organisation for domestic pharmaceutical companies, has taken up with the Foreign Secretary, Mr Shyam Saran, the statements made by Mr Hank McKinnell, Chairman and Chief Executive, Pfizer Inc, against Indian pharma companies. Mr McKinnell, on winning a lawsuit related to filing of an application by an Indian company to market a generic version of Lipitor (atorvastatin), has been quoted in Financial Times as saying, "This is a big win for Pfizer. It's also a big win for medical innovators... This should be a message for companies in India that do have important scientific capabilities that they should not steal others' innovations but they should create technology for themselves." IPA, in its letter, has said that the above statement is "slanderous and outright malicious aimed to denigrate Indian companies." It said the Para IV challenge is a common practice and followed by many US and other global companies. "However, by singling out Indian companies, the above comment tends to be racist and tantamount to racial discrimination. Further, by alleging that the US court decision was a `message' to Indian companies not to `steal others' innovations,' Dr McKinnell has deliberately sought to distort the scope of the decision to imply that the legal proceedings were related to the stealing of Pfizer's innovations." The association has asked the Government to take appropriate steps to mitigate the damage to India and the Indian pharmaceutical industry. "We also urge you to take up the above statement with the appropriate authorities in the US on two counts, namely, slander and racial discrimination," it added.
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