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  • In a landmark decision, India's Supreme Court rejects Novartis' (NVS) bid for patent protection for its cancer drug Glivec, thus allowing the country's generic drugmakers to continue to sell copies at a lower price. Novartis India fell 1.8% on the Bombay exchange while generic manufacturer Natco Pharma surged 5.4%[View news story]
    Not surprise here. India has a long history of not respecting intellectual property rights, and is the co leader with China in making counterfeit products. Historically, countries which do not respect intellectual property rights have very little of their own. The loss of investment in India because of the country's stance on intellectual property is considerable.
    Apr 1, 2013. 10:50 AM | Likes Like |Link to Comment
  • The Swiss are voting in a referendum today on an "anti-fat cat" initiative that would allow investors to hold binding votes on executive pay at listed companies and allow them to block large payouts at the start or end of a manager's employment. The measure is expected to pass. Companies that will be affected include Novartis (NVS), Nestle, UBS, Credit Suisse (CS), ABB, Roche, Transocean (RIG) and Weatherford (WFT). [View news story]
    If I understand this correctly, it is not the shareholders voting, it is all citizens, whether they have invested anything anywhere or not.
    The press whips things up and then says the people are upset - a self fulfilling prophesy. Novartis shareholders (small vocal minority), complain about pay, moving research to Cambridge, calandars with beautiful Swiss scenery, and etc, but never about performance or empty pipelines. It appears some want low paid executives (different ones as current leave for the competition), low performance and fewer NDS submissions to the FDA. But no fear; the noisy few have limited support, as the Board received 93 percent support. But non shareholders voting - who knows - Greece, here we come.
    Mar 4, 2013. 07:29 AM | Likes Like |Link to Comment