- CLSA bullish on Indian pharma, upgrades IPCA Laboratories to 'buy', downgrades Biocon, RanbaxyGovt mulls USFDA-like checks to keep MNC drug makers on toesUS trade enforcement action likely against India, pharma companies to be hitLapses by a handful overshadowed good things done by Indian pharma cos: FDA
After dragging India to WTO on solar projects, US International Trade Commission (USITC) on Wednesday started a probe into the impact of Indian trade and investment policies on US economy.
In a media teleconference Linda Dempsey, vice-president of organised by US-based National Association of Manufacturers, said that the investigation has been taken in the wake of deteriorating trade relations between India and the US.
“We seek action against India’s unfair trade policies. It has been negatively impacting our manufacturing... USITC will do a thorough analysis of the case based on all the details. It will give detailed information to the US Congress... It does not have the ability to take action. The investigation will provide a fact-full basis for any such action,” she said.
The US has been criticising India’s intellectual property rights policies, mainly in the pharma sector, alleging that the IPR regime in the country is weak and unstable. Last year, Swiss pharma company Novartis AG lost a legal battle in the SC for getting its blood cancer drug Glivec patented in India. Patent plea of Bristol-Myers Squibb’s Sprycel was also rejected, raising concerns among multi-national pharma majors.
Asking India to “abide by basic principles of non-discriminatory trade practices”, Dempsey said that the US wants a level playing field. Representatives from pharmaceutical and IT industries are expected be in Washington on Thursday to make submissions before the USITC to explain India’s trade policies.
Last year, US senators had urged the USITC to conduct an investigation of Indian trade policies that discriminate against US imports.