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Indian court to rule on generic drug industry
Headline Topics |
2013/01/08 21:27
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From Africa's crowded AIDS clinics to the malarial jungles of Southeast Asia, the lives of millions of ill people in the developing world are hanging in the balance ahead of a legal ruling that will determine whether India's drug companies can continue to provide cheap versions of many life-saving medicines.
The case — involving Swiss drug maker Novartis AG's cancer drug Glivec — pits aid groups that argue India plays a vital role as the pharmacy to the poor against drug companies that insist they need strong patents to make drug development profitable. A ruling by India's Supreme Court is expected in early 2013.
"The implications of this case reach far beyond India, and far beyond this particular cancer drug," said Leena Menghaney, from the aid group Doctors Without Borders. "Across the world, there is a heavy dependence on India to supply affordable versions of expensive patented medicines."
With no costs for developing new drugs or conducting expensive trials, India's $26 billion generics industry is able to sell medicine for as little as one-tenth the price of the companies that developed them, making India the second-largest source of medicines distributed by UNICEF in its global programs.
Indian pharmaceutical companies such as Cipla, Cadila Laboratories and Lupin have emerged over the past decade as major sources of generic cancer, malaria, tuberculosis and AIDS drugs for poor countries that can't afford to pay Western prices.
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Italian court convicts 7 for no quake warning
Headline Topics |
2012/10/24 16:47
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Defying assertions that earthquakes cannot be predicted, an Italian court convicted seven scientists and experts of manslaughter Monday for failing to adequately warn residents before a temblor struck central Italy in 2009 and killed more than 300 people.
The court in L'Aquila also sentenced the defendants to six years each in prison. All are members of the national Great Risks Commission, and several are prominent scientists or geological and disaster experts.
Scientists had decried the trial as ridiculous, contending that science has no reliable way of predicting earthquakes. So news of the verdict shook the tightknit community of earthquake experts worldwide.
"It's a sad day for science," said seismologist Susan Hough, of the U.S. Geological Survey in Pasadena, Calif. "It's unsettling." That fellow seismic experts in Italy were singled out in the case "hits you in the gut," Hough added.
In Italy, convictions aren't definitive until after at least one level of appeals, so it is unlikely any of the defendants would face jail immediately.
Other Italian public officials and experts have been put on trial for earthquake-triggered damage, such as the case in southern Italy for the collapse of a school in a 2002 quake in which 27 children and a teacher were killed. But that case centered on allegations of shoddy construction of buildings in quake-prone areas.
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Federal agency charged with enforcing consumer finance laws
Headline Topics |
2012/09/12 10:40
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The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive fees and marketing and unmoved by protests that its tactics go too far.
In the 14 months it has existed, the Consumer Financial Protection Bureau has launched dozens of enforcement probes and issued more than 100 subpoenas demanding data, testimony and marketing materials -- sometimes amounting to millions of pages -- from companies that include credit card lenders, for-profit colleges and mortgage servicers.
More than two dozen interviews with agency officials and industry executives offered sweeping insight into the new agency's behind-the-scenes efforts, which have taken the financial industry off guard and have been far more aggressive than previously known.
The number of subpoenas and probes was confirmed by agency, industry and trade group officials who spoke to The Associated Press on condition of anonymity because the subpoenas bar both sides from discussing them.
The bureau's actions have many banks, payday lenders and credit card companies racing to adjust. They're tightening their record-keeping and budgeting for defense lawyers, according to attorneys and trade group executives who work with them. The companies themselves are reluctant to discuss the bureau because they don't want to be seen as criticizing a regulator that is still choosing its battles. |
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NY Court: Gay Marriage Caucus Didn’t Break Rules
Headline Topics |
2012/07/09 15:14
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A state appeals court rejected a challenge to New York’s year-old same-sex marriage law Friday, ruling closed-door negotiations among senators and gay marriage supporters, including Gov. Andrew Cuomo, did not violate any laws.
The Appellate Division of state Supreme Court in Rochester ruled against gay marriage opponents who argued that Republican state senators violated New York’s open meeting rules ahead of the law’s passage last year.
The marriage law was given final legislative approval by the state Senate after weeks of intensive lobbying and swiftly signed by Cuomo, making New York the largest state to legalize same-sex weddings. Same-sex couples began marrying by the hundreds on July 24, 2011, the day the law became official. |
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