The Hindu Business Line : HC to hear Glivec issue on Nov 6

Mumbai, Oct. 23 With Natco expressing its opposition on the revised proposal from the Government regarding who would hear Novartis’ appeal on Glivec, the Madras High Court will now hear the issue on November 6.

Earlier this month, the Government had given a revised proposal stating that the Chairman and the Vice-Chairman of the Intellectual Property Appellate Board (IPAB) look into the issue.

The revised proposal had been made by the Government after Novartis had objected to the appointment of the former Patent Controller General, Mr Chandrasekaran, as a technical member on the IPAB. And this, because Mr Chandrasekaran was the head of the Indian Patent Office when it rejected Novartis’ Glivec patent application in January 2006.

The Government’s revised proposal had found favour with Novartis and other parties involved with the case and a judgment was expected today, said lawyers familiar with the case. But with Natco opposing the proposal, the next hearing has been scheduled for early next month.

Q2 net rises 70%

Novartis has posted a 70 per cent growth in its net profit for the three months ended September 30, 2007, on the back of higher sales and a favourable exchange rate, among other things.

The company clocked a net profit of Rs 30.39 crore ( (Rs 17.87 crore). Total income increased to Rs 163.97 crore (Rs 138.25 crore).

Chairman resigns

The company said Dr Erwin Schillinger had resigned from the board of directors of the company and ceased to be the Chairman of the board. Dr Schillinger had become Chairman of Novartis in India from November 1, 2001. A company spokesperson said that he had retired from the company, Dr P Jager has been appointed as Director and succeeds Dr Schillinger as the new Chairman. Both changes are with effect from October 23, the company told the Bombay Stock Exchange.