Medical Innovation Protection Stressed in EU-India Free Trade Agreement Talks
The Financial Express published an article on the Free Trade Agreement (FTA) talks that continue between the European Union (EU) and India. One of the most discussed and disagreed upon parts of the proposed FTA involves the need for protecting the intellectual property of pharmaceutical companies in order to promote medical innovation and investment in the development of new medicines and research. This disagreement about whether data exclusivity in the pharmaceutical sector should be included has resulted in the delay of finalizing the FTA.
Pharmaceutical companies rely on data exclusivity to protect the investment made in developing the medication that is used throughout the world. Millions of dollars are spent on clinical trials to prove the safety and effectiveness of these drugs. These exclusive rights prevent competitors from obtaining marketing licenses for lower cost versions of these drugs.
Global Health Progress (GHP) is committed to being part of the effort to create a sustainable health care system that includes improving access to health care and continuing medical innovation and progress for all people. While the pharma industry is divided on the issue, GHP supports efforts to improve regulations protecting pharmaceutical companies’ intellectual property. Without this protection, the funding of studies that bring these medications to market could suffer.
Improving health care systems and access to medicines, especially in the developing world, requires multifaceted approaches and solutions. Research-based biopharmaceutical companies are active partners in some of the largest and boldest health initiatives that explore new and effective ways to provide treatment, care and education to millions of people in developing countries.
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