Breaking News: Bayer CL Order Upheld by the IPAB

According to the Economic Times, the IPAB has upheld the Compulsory License granted to NATCO by the Indian Patent Office last March to manufacture Bayer's patent anti-cancer drug Nexavar. Apparently, the rate of royalty has been upped from 6% to 7%.

The pronouncement reportedly lasted for 6 hours in which Justice Prabha Sridevan is reported to have observed that in 3 years, Bayer had not revised its marketing strategy nor had it taken steps to slash prices.

We will discuss more after we read the order first hand.