IMPORTANT ECONOMY NEWS: the hindu

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Prime Minister Narendra Modi’s Government has made renewable energy its top priority. It has more than doubled the capacity target to 175 gigawatt by 2022. Of this, wind will account for 60 gigawatt and solar 100 gigawatts.

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Gilead Sciences USA 1^st company to offer a ‘Volunatary Licence’ for its blockbuster, drug, Sofosbuvir used in treatment of Hepatitis C Virus[HCV].

HCV- affects the liver and if left untreated can cause LIVER CIRRHOSIS OR LIVER CANCER – HIGH MORTALITY RATE.

Indian companies can sell the drug in 91 countries on a payment of a 7% royalty on the billing to the Gilead Company. This is possible because of the Voluntary Licensing offered by Gilead Sciences.

This drug in combination with others have a above 90% cure rate for HCV patients.

VOLUNTARY LICENSCING:

Voluntary licensing arrangements between a patent holder and another party in a country, or serving the country's market, may afford opportunities for significant cost-containment. 

Patent holders may at their discretion, license to other parties, on an exclusive or nonexclusive basis, the right to manufacture, import, and/or distribute a pharmaceutical product. 

In this case Gilead has signed non-exclusive licensing agreements with many Indian generic drug manufacturers to MANUFACTURE AND MARKET GENERIC SOFOSBUVIR IN 91 markets.

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