India and EU Reach Settlement on Indian Generic Drug Shipments
The settlement will ensure that none of the 27 members of the economic and trading bloc will detain 'Made in India' consignments of generic medicines, which are transiting through EU ports.
India and the European Union have reached an interim settlement on the long pending issue of seizure of Indian generic drug shipments at the EU ports, en route to Latin American and other countries, on charges of counterfeiting and patents infringement.
The settlement will ensure that none of the 27 members of the economic and trading bloc will detain "Made in India" consignments of generic medicines, which are transiting through EU ports.
As per the understanding between India and the EU, the European Commission will come up with a new Regulation to replace Regulation 1383/2003, under which the EU countries were detaining the Indian generic drugs on charges of counterfeiting and patents infringement.
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