Since May, India, Brazil and the EU have been feuding over the EU's interruptions of generic drug shipments, passing through its territory, from India to Brazil. The EU had stopped the shipments claiming that they were in violation to member state patents - even though the drugs were legal in the improting and exporting countries. The dispute had elevated itself before a WTO court.
Now all is forgiven. The EU has amended custom codes and will no longer stop these shipments en route to Latin America or Africa - except in the case of counterfeiting. India and the EU consider the dispute settled. Brazil and the EU are still battling things out. See in-Pharma Technologist.com.
The dispute had implications for a EU-India free trade agreement (FTA). "This free trade zone will bring together markets of one and a half billion people. It will be a key contribution to the global recovery. Most importantly, it will be crucial for sustainable growth, jobs and innovation both in India and in Europe," said Herman Van Rompuy, president of the European Council.
Money still talks.
Posted by Bruce Lehr December 13th 2010.
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