URGENT ¥¥¥ Novartis loses Indian patent fight in landmark ruling

India's top court denied Monday a patent request by Swiss drug giant Novartis for its cancer drug Glivec in a landmark decision seen as crucial for India's status as a global source of cheap medicines.

The Supreme Court ruled that the compound for which Novartis was seeking a patent "did not satisfy the test of novelty or inventiveness" required by Indian law.