PHARMACEUTICAL INDUSTRY: WINDS OF CHANGE

Article Abstract:

Pharmaceutical companies will soon have to comply with the World Trade Organisation obligations for disputes on patent protection. The government is likely to introduce a new bill recognising product patents and replace the existing laws which supports a process patent system for a seven year duration. A change in the laws will encourage multinationals to invest and enter the pharmaceutical sector in a big way. Many small companies will be forced to close while the stronger players will look at joint ventures with the foreign companies to ensure viability. Domestic pharmaceutical companies will also have to give a strong thrust towards research and development to survive. (khr)

Government regulation (cont), World, Patents & copyrights

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ABBOTT LABS Q3 SALES UP 15%

Article Abstract:

Abbott Labs has posted a 15 percent increase in gross sales to Rs23.58 crore for the third quarter ended December 31, 1998 (Rs20.42 crore in the third quarter ended December 31, 1997). Its net sales increased by 16 percent to Rs20.32 crore (Rs17.52 crore). Its net profit is Rs0.64 crore (Rs0.48 crore loss). It has posted gross sales of Rs77.18 crore and a net profit of Rs2.31 crore for the nine months ended December 31, 1998. (rk)(m)

Comment:

Abbott Labs has posted a 15 percent increase in gross sales to Rs23.58 crore for the third quarter ended December 31, 1998 (Rs20.42 crore in the third quarter ended December 31, 1997).

United States, Sales, profits & dividends, ABT, Abbott Laboratories (Abbott Park, Illinois)

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