New Delhi, February 21
Concerns have surfaced over Indian pharma major Cipla striking an India-specific strategic deal with US-based Merck and Co for a critical HIV drug Raltegravir with health activists demanding clarity on the pricing of the drug.

The agreement allows Cipla to have a non-exclusive licence to market, promote and distribute MSD’s (Merck’s trade name) Raltegravir 400 mg tablet under a different brand name in India. But activists are questioning pricing ramifications of the deal considering Raltegravir is patented in India since 2006 and with the patent not expiring before 2022, open generic competition on this medicine is blocked.

“The licence deal is a huge disappointment as it doesn’t allow generic competition among multiple producers that could lead to 90% price decreases we’ve seen for other HIV medicines in India and other developing countries. India’s Health Ministry should pursue a compulsory licence on Raltegravir to allow broad competition so that affordable generic versions of this drug are available,” Leena Menghaney of Médecins Sans Frontières said.

MSF added it was not up to companies to decide on a reasonable price or terms for a drug. “The government must decide whether or not such marketing arrangements between Indian and large foreign pharma firms undermine or improve access to medicines at affordable prices,” Menghaney argued.

Raltegravir is an important HIV medicine used to treat patients who have failed first and second line anti-retroviral treatment. It was among the first HIV medicines to be patented in India.

Middle-income countries currently pay over $5,000 per patient per year for Raltegravir with MSF alone paying over $1,700 per patient per year for Raltegravir in treatment programmes in India.

“Any licensing deal concerning a drug patented in India is liable for scrutiny of the government. MSD is bound to submit a copy of its licensing agreement to the Patents Office to come clean on anti- competitive provisions in the agreement, if any. If MSD doesn’t submit the agreement voluntarily, the government can ask for it,” said activist Gopa Kumar.

While the terms of the deal between Merck and Cipla haven’t been made public, activists say the company statements indicate the agreement is not a licence to open up production and supply of a generic version of Raltegravir. “It is a deal that will allow Merck to use Cipla's marketing and distribution network in India to sell its patented product under a different brand name. There’s no clarity on price. Merck and Cipla must declare terms of the deal so stakeholders can independently assess the agreement for any restrictive conditions it entails,” MSF activists said.

Activists also demanded that the process of pursuing a compulsory licence for Raltegravir should be continued by India.

India has around 2.3 million HIV positive people and 1.3 lakh are reported to be on anti-retroviral treatment.

New Delhi, February 21
The Income Tax Department has identified additional 21.75 lakh potential non-filers. As per a Finance Ministry statement, the I-T Department has sent letters to 50,000 potential non-filers in the first batch.

The information relating to the 21.75 lakh new non-filers has been made available on the compliance module on the e-filing portal of the I-T Department. The information will be shown only to the specific PAN holder when the PAN holder logs into e-filing portal. The PAN holder will be able to submit the response electronically and can keep a print-out of the submitted response for record.

Earlier, the I-T Department had initiated a business intelligence project in February, 2013, to identify PAN holders who have not filed I-T return and about whom specific information is available in annual information return (AIR), central information branch (CIB) data and TDS/TCS Returns.

In the first round of data matching, 12.19 lakh non-filers were identified. Letters have been sent in these cases by the Compliance Management Cell and assessing officers seeking the response of the taxpayer. The Finance Ministry said the results of this initiative have been encouraging and 5.36 lakh returns have been received from the target segment. Self-assessment tax of Rs 1,017 crore and an advance tax of Rs 898 crore has also been paid by the target segment.

The statement said while the government urges all taxpayers to disclose their true income and pay appropriate taxes, the Tax Department would continue to pursue the non-filers vigorously till all the high-potential non-filers are covered. 

New Delhi, February 21
Industry body Assocham has reached out to major political parties with an economic agenda for the next government with emphasis on removal of corruption along with building massive infrastructure, new cities and financial reforms so that job creation is possible through 9% growth.

In a note submitted to the political parties for consideration in their manifestos, the chamber says, “Let governance and economy be the main issue in the slugfest between the main contestants to the next government at the Centre. It is imperative that electoral discourse and governance agenda should accord top priority to the economic well-being of the nation”.

It says while there has been a steady improvement in public discourse about the issues facing the nation, it was time the politics of caste and religion be replaced with the governance issues, including the menace of corruption which has become so much all pervasive that it is taking a big toll on the average citizen and the business community.

“Let different parties present their model of remedy so that the process of governance becomes less of discretionary and more of system-driven. Besides, let judicial reforms and infrastructure be strengthened in a way that the trials of corruption cases are speeded up and disposed in a matter of months. Economic growth cannot be achieved unless the public faith in the rule of law and clean governance is established,” the Assocham document for the political parties said. 

New Delhi, February 21
In a step forward for issuance of flying permit to AirAsia India, aviation regulator DGCA today disposed of the objections against the start-up carrier filed by the Federation of Indian Airlines (FIA) and some others.

The objections raised by FIA and others on the AirAsia India issue have been "disposed of", sources said.

Thus, AirAsia India, a joint venture of Malaysian carrier AirAsia, Tata Sons and Telestra TradePlace, moved a step forward towards getting the Air Operators Permit or the permit to fly.

Without giving any specific time line for the grant of a flying license to the new airline, the sources said "it is expected shortly".

The Directorate General of Civil Aviation (DGCA) had sought feedback from the general public and the affected parties on providing an air operator permit (AOP) to the airline for almost a month.

These objections and suggestions were being examined over the past few days, the sources said. This was the first time the regulator had invoked the rule seeking objections from the public before granting a flying licence.

In April last year, the Foreign Investment Promotion Board had approved the $30-million deal to launch AirAsia India. It received a no-objection certificate (NOC) from the Civil Aviation Ministry last year.

AirAsia India was also granted in-principle approval for import of 10 Airbus A-320-200 aircraft in December last year. — PTI 

BRIEFLY

United Bank of India chairperson resigns
New Delhi: United Bank of India chairperson Archana Bhargava has resigned from the state-owned lender that is being probed for misreporting bad loans. "She has taken voluntary retirement and her request has been accepted by the government," Financial Services Secretary Rajiv Takru said. — PTI

Tata Motors cuts prices by up to ~1.5 lakh
New Delhi: Tata Motors on Friday announced cut in prices by up to Rs 1.5 lakh across its product portfolio following excise duty reduction announced in the Interim Budget. The price reduction across passenger vehicles is in the range of Rs 6,300 to Rs 69,000, depending on the model, while the cut in commercial vehicles portfolio is in the range of Rs 15,000 to Rs 150,000. — PTI

Yamaha slashes prices by up to ~3,066
New Delhi: Yamaha Motor India Sales on Friday cut prices of its two-wheelers by up to Rs 3,066 across models following excise duty reduction in the Interim Budget. The price cut ranges from Rs 1,033 to Rs 3,066 depending on the variants, it added. — PTI

Forex reserves rise by $1.46 bn to $293.79 bn
Mumbai: India's foreign exchange reserves surged by $1.46 billion to $293.79 billion in the week ended February 14 on account of increase in the currency assets, the RBI said on Friday. Foreign currency assets, a major part of the overall reserves, rose by $1.414 billion to $267.25 billion in the week under review, the RBI said. — PTI

Uday Kotak named E&Y Entrepreneur of The Year
Chandigarh: Uday Kotak, executive vice-chairman, Kotak Mahindra Bank, was on Friday named the E&Y Entrepreneur of The Year 2013. Dr Yusuf K Hamied, chairman, Cipla, was honoured with the Lifetime Achievement Award. — TNS