Novartis warns India of losing R&D biz to China

NEW DELHI: Multinational drug makers would prefer China for investments in pharmaceutical research so long as India keeps the bar for patenting a drug so high, warned drug major Novartis on Monday after the Madras High Court turned down the company’s challenge to the country’s patent law.

Novartis India (current quotes) vice-chairman and managing director Ranjit Shahani, who also heads a body that represents MNC companies, told ET that most of the drug majors have invested in China in the last two years in pharma research , while India did not attract any investments. “No company will go on setting up research centres on an yearly basis. Once it is set up in country , it may not look for further investments for some time,” said Mr Shahani .

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