- All > Medicine Access and Rational Use > Supply Management
- All > Public Health, Innovation, Intellectual Property and Trade > Intellectual Property (IP) and Trade
- Keywords > compulsory licences
- Keywords > data protection
- Keywords > Intellectual Property Rights (IPR)
- Keywords > legislation
- Keywords > parallel importation
- Keywords > patent system
- Keywords > patents
- Keywords > prices / pricing policy
- Keywords > Trade Related Aspects of the Intellectual Property Rights (TRIPS)
- Keywords > TRIPS flexibilities
(2018; 2 pages)
In 1995, when the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) came into effect, all but the least-developed members of the World Trade Organization (WTO) were bound to provide intellectual property protection for pharmaceutical products. The proponents of the Agreement had argued that the global strengthening of such protection would spur innovation. However, after the Agreement came into effect, there was a fall in the number of new medicines being approved annually.
So far, the main impact of the Agreement on TRIPS has been on the prices of medicines. In the absence of competition, prices can be fixed – by the owners of the relevant intellectual property rights – on the basis of what the market can bear...