Word: patents
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...doses of knockoff Viagra. Although they're illegal, the fakes are so widespread that American pharmaceutical giant Pfizer says it's having a difficult time selling the real thing. Last week Pfizer's job grew even tougher. China's State Intellectual Property Office (SIPO) overturned the company's patent rights to Viagra, potentially opening the Chinese market to a flood of cheap, locally made generic rivals...
...Details of the decision have not been released, but SIPO says Pfizer's patent was rescinded on the grounds that its description of the drug was insufficient to meet the standards of Chinese law. The company claims it's being penalized for not fulfilling requirements that didn't even exist when its patent was approved in 2001, and U.S. Trade Representative spokesman Richard Mills says he will raise the issue with the Chinese government. Pat Powers, Beijing-based director of China operations for the U.S.-China Business Council, says SIPO's decision "sends a negative signal to foreign companies looking...
...adult health centers", vying with ticklers, oils and fake genitalia, knockoff Viagra pills are a bestseller that have all but replaced the traditional cure for impotence - tiger penis. The struggle by Pfizer, Viagra's creator, to sell the real thing got even tougher last week when China's patent office overturned the drug's patent there, potentially handing the market to locally made generics. The decision hinged on Viagra's use for erectile dysfunction rather than its chemical composition - authorities said Pfizer's application had not clearly described the drug. "Hairsplitting" is what the U.S. China Business Council called...
...about one for every member of Congress, according to a report issued last week by the watchdog group Public Citizen. Despite the siege mentality at the conference--and fears of a shortage of blockbusters in the pipeline just as several billion-dollar drugs get ready to come off patent--the industry remains one of America's healthiest. U.S. prescription-drug sales grew 11.5% last year, to $216 billion; the top 10 pharmaceutical firms netted a combined income of some $50 billion; and drug companies booked average profit margins of 14%, among the highest of any U.S. industry...
Cox’s father, Archibald Cox, was a patent lawyer, and his mother’s grandfather, William M. Evarts, defended President Andrew Johnson during impeachment proceedings in 1868, according to Ken Gormley’s 1997 biography, Archibald Cox: Conscience of a Nation...