Financial Services Industry
Industry: Email Alert RSS FeedGlaxoSmithKline faces Chinese patent challenge.
Investors Chronicle, August, 2004
A group of Chinese generic drug manufacturers, believed to include Shanghai Sunve and Chongqing Taiji, are to dispute GlaxoSmithKline's patent for diabetes drug Avandia. A State Intellectual Property Office hearing is set for 18 August - analysts think China could face international trade sanctions as a result.
Analysts warn that China - already criticised for allowing software piracy - could face an international clampdown. "This blatant disregard for intellectual property flies in the face of China's international obligations," says Navid Malik of broker Williams de Broe. "It's a World Trade Organisation issue and could result in trade sanctions." Pfizer's patent for Viagra was also recently overturned by China.
The Chinese Avandia market is...
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