Pfizer gets HIV drug patent in India; share up 7.5%

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Pfizer gets HIV drug patent in India; share up 7.5%

11 Dec, 2007, 1228 hrs IST, INDIATIMES NEWS NETWORK

MUMBAI: Pfizer shares rose nearly 7 per cent on news that the global

drug major's new HIV/AIDS drug Celzentry has become the first

HIV/AIDS treatment drug to get a patent in India.

This is a major development considering the patent tussle between

multinational drug companies and patient groups in India.

Discovered and developed by Pfizer scientists since 1997, Maraviroc-

the generic name for Celzentary -- received approval from the US Food

and Drug Administration in August 2007.

At 12:03 pm, the company's shares were up 7.51 per cent to Rs 771.05

with volume traded at 25,629 against 29,938 shares. The stock shot up

to a high of Rs 818.95 in trade so far.

http://economictimes.indiatimes.com/Stocks_in_News/Pfizer_gets_HIV_dru

g_patent_in_India_share_up_75/articleshow/2613859.cms