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Tata Motors net at Rs 400 crore
Robust festive demand and new launches helped the country’s largest automotive company, Tata Motors, to swing to a third-quarter net profit of Rs 400 crore. The company had made a net loss of Rs 263 crore in the three months ending December 2008.

BofA will 'comfortably' beat capital goal
Bank of America Corp, the biggest US lender, has raised almost all of the $33.9 billion demanded by regulators after last month’s stress tests and now expects to “comfortably exceed” that number.

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Sensex breaks 3-day winning streak
The Sensex opened flat at 17,032 owing to subdued cues from the global markets. The index touched a high of 17,099 and continued to swing between alternate zones of red and green. The index slipped to a low of 16,958. The BSE benchmark ended at 16,998, down 52 points. The NSE Nifty settled flat at 5,054.
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Novartis moves SC against Glivec order

Swiss drug major Novartis has approached the Supreme Court against a decision of the country’s apex patent complaint redressal forum, the Intellectual Property Appellate Board (IPAB), to deny patent protection for its cancer medicine, Glivec. The court is expected to take up the case for hearing on August 31. - Roche"s SLP against Cipla order quashed - Novartis gains on hopes of flu vaccine order - Foreign pharma firms likely to beat Indian ones in developing vaccine - Novartis starts testing its swine flu vaccine - Govt files revised SLP, setting "defects" right - Declare Ambani MoU illegal, govt asks SC The special leave petition (SLP) filed by Novartis said the basis for the denial of patent was not applicable in the case of Glivec. “Novartis believes that Section 3(d), the Indian legal paragraph intended as a hurdle for "evergreening", is not applicable at all to the breakthrough medicine Glivec. The beta crystal form of Imatinib mesylate is the active ingredient of the genuine breakthrough medicine Glivec. No other drug comprising Imatinib was available anywhere in the world before Glivec was launched,” said a Novartis press release. Novartis also said it objected to IPAB’s contention, citing Section 3(b), that the price of the drug is “too unaffordable". The company said the price was irrelevant in the case of Glivec as “99 per cent of all Glivec patients in India — currently more than 11,000 — have been receiving their medicine free of charge through the Glivec International Patient Assistance Program (GIPAP) since 2002”. Glivec is among the first and most contentious patent battles in pharmaceutical sector after India changed its patent laws to comply with its obligations to the World Trade Organisation in 2005. In 1998, Novartis filed a patent application in India for a product patent on the beta-crystalline form of imatinib mesylate (Glivec). As India did not recognise product patents for pharmaceuticals, this patent application was to be examined only after 2005. In 2003, Novartis obtained exclusive marketing right for the medicine based on this patent application.


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