Business Standard
Wednesday, Feb 15, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||||Economy & Policy||||| 
 Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says
Home > Economy & Policy Live Markets | Commodities
 

Indian drug seizure by EU may force firms to change routes
Press Trust Of India / New Delhi May 16, 2009, 00:54 IST

Frequent seizure of Indian drug consignments in Europe may force domestic pharmaceutical firms to avoid the European sea routes to destinations in Africa and Latin America, Commerce Secretary G K Pillai said.

Concerned over continuation of the “non-trade barriers” (seizure of drug consignments), Pillai said the Indian firms would have to avoid “European ports and take the goods through some other ports”.

 Click here for Cloud Computing
 
The seizure of drug consignments by European authorities has gained momentum in recent times. In the past few months, four large Indian consignments destined to African countries were seized at European ports ostensibly on allegations of patent violations.

Pillai said this act on part of European authorities had adversely impacted businesses of the Indian firms. “If you seize them (consignments), it means I have defaulted with my contractual supply and after you return it after two or three months, already my business is affected, my reputation is affected.” he said.

Indian firms export their products through Mediterranean route using Suez Channel, which is the shortest route for Latin America and Western Africa.

In separate incidents, in February and March, Netherlands had confiscated blood pressure control and anti-HIV drugs going to Brazil, Columbia and Nigeria. The consignments were sent by a Hyderabad-based pharmaceutical firms.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end higher led by rate sensitives
- New rules to seize property of corrupt babus
- BSES gets Rs 5,000-cr IDBI Bank loan to pay dues
- Reliance MediaWorks Q3 net loss at Rs 151 cr
- Investor wealth grows by Rs 10 lakh cr in 2012 rally
  Read Business news in 
- Now property search gets more exciting than ever before!
- High Growth Business Opportunities in Africa - Register to explore
- We live for our family. have you secured them?
- Office 365 for professionals and small businesses.
- Financial Learning now made easier and more convenient.
- Earn fuel worth Rs.2400 with Citi
- India's No. 1 Property Site. Click here to know more..
- Get 5% cashback on telephone bills with Citi
- Enjoy the journey as much as the destination. click to know more..
- Exim Bank Conclave on India - Africa Project Partnership. Know more..
- Be part of it The World's Largest Aircraft.
- Creating Wealth made simple the SIP way. Know more..
- Only Developer to give a guarantee on time space & rate.
- Buy Your Property with Our Triple Guarantee in India.
- Improve Patient Care & Experience. Click here to know more
- Win a Business Class Ticket to Europe..Know more..
-  Introduce a New Automotive Luxury Car.. know more
- Health is Wealth..... Insurance + Savings... Know More...
Sorry, comments to this story are closed
Latest Messages
Posted by: Fufo
So Commerce Secretary G K Pillai (Indian Government Official), agrees, accepts and supports these Indian patent violations. A sad reflection on the Indian Govt and these pharma companies. These companies should be well aware in their risks analysis of product manufacture and supply chain. Its no good crying about the EU authorities. Commerce Secretary, its these few companies give the rest of the Indian business a bad name.
SmartInvestor+ E-zine
  Pay Rs.747/- for 3 years and
  get a branded watch FREE

  Subscribe Now
Most Popular
Read
E-Mailed
Commented
   
- BSE Q3 net dips 23% on market making spends
- Shyam Saran: Changing climates of governance
- Subir Roy: Creating affordable urban capacity
- M J Antony: Reluctant respondents
- Pvt carriers free to fly into Air India territory
 
 More  
New Ipad Application
 Business Standard's all new IPad  App
 Click here to download for free
  BS Specials  
    Full coverage of elections in Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa
  Hot Searches  
 
Ambassador car |  Uttarakhand |  TCS |  Sarfaesi Act |  Vodafone |  DZire |  Aakash tablet |  Sodexo |  NHAI |  Companies Bill 2011 |  Playbook |  Rupee |  Samsung Galaxy Note |  Kingfisher Airlines |  FDI in retail |  Silver |  Provident Fund |  income tax refund |  Anna Hazare |  iPhone |  Reliance Industries |  SEBI |  BSNL |  BSE |  NSE |  Mukesh Ambani |  Anil Ambani |  TCS |  Infosys |  Pranab Mukherjee |  Sonia Gandhi |  Rahul Gandhi |  New Pension Scheme |  Reliance |  RBI |  GDP |  Gold |  Ratan Tata |  ICICI |  B-School |  Sensex |  Tax calculator |  Home Loan |  Personal Finance |  inflation |  oil prices |  Barack Obama |   
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
FOR HOT PRODUCTS
BS Bazaar.com
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us