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Philippines seeks end of Pfizer Norvasc patent |
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Inquirer – May 9, 2007 MANILA, Philippines -- A state-owned Philippine company on Tuesday urged regulators to cancel the patent held by pharmaceutical giant Pfizer on a popular anti-hypertension drug Norvasc. Philippine International Trading Corp. (PITC) wants the Intellectual Property Office to cancel the US-based company's exclusive patents on amlodipine besylate, known as Norvasc, so Filipino pharmaceutical firms can import or produce cheaper alternatives. The Philippine patent, granted in June 1990 and expiring next month, is held by its British unit, Pfizer Ltd. UK. PITC argued that the patent for Norvasc was "neither new and novel nor non-inventive." A Norvasc tablet costs about one dollar in the Philippines but only some 10 cents in India, PITC said on its website. PITC says multinational drug companies control around 70 percent of the Philippines' pharmaceutical market.
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Vision Statement
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PITC is a dynamic
and self-sustaining government corporation engaged in trading and
marketing activities aimed at uplifting the quality of life of the
Filipino people and promoting equitable
national progress |
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Mission Statement
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As the lead government
trading and marketing institution, PITC shall:
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Make quality essential medicines available,
accessible and affordable to the greater masses of our people;
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Promote countertrade and exports thus
creating job opportunities and improving the country's balance of
payment;
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Be the most efficient and cost-effective
procurement institution for government entities;
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Help stabilize prices and ensure supply
of basic goods and services; and
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Develop core competency and progressive
career path for its employees.
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