Pharmaceutical Patent For Bayer's Avelox Annulled

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In a move that further reduces Venezuela's attractiveness to multinational drugmakers, the country's Minister of Trade, Eduardo Saman, has announced that the government is invalidating pharmaceutical patents for an antibiotic produced by multinational drugmaker Bayer. The move follows legal action initiated by Bayer aimed at stopping local companies producing generic copies of moxifloxacin. BMI believes that the government's move provides further evidence for Venezuela's poor intellectual property score in our Pharmaceuticals & Healthcare Business Environment Ratings.