The Parliamentary Budget Officer (PBO) revealed that new intellectual property provisions in the Canada-United States-Mexico Agreement would cost Canadians as much as $169 million more per year for pharmaceutical drugs
The new version of NAFTA forbids the US Congress from curtailing Big Pharma’s patent monopolies on some of the world’s most expensive drugs.
Democrats in Congress contend that the new pact would force Americans to pay more for prescription drugs, and their argument has dimmed the outlook for one of Trump’s signature causes.
Some Democrats in the US, like Canada’s generic drug industry, warn that the new biologics rule would keep drug prices high by requiring citizens to wait longer before they can get their hands on lower-cost similar drugs known as biosimilars.
In a letter to Congress, the groups demand that the pact’s giveaways to Big Pharma that would keep medicines unaffordable be removed before the pact is sent to Congress.
NAFTA 2.0 would effectively tie the US Congress’ hands in the struggle against rising drug prices.
US drug manufacturers want Japan to provide 12 years of data protection for biologic medicine in upcoming trade talks. That would be four more years than Japan currently provides.
The Intellectual Property Chapter of the revised NAFTA, rebranded by the Trump Administration USMCA, includes provisions that threaten to undermine critical efforts towards affordable health care and medicine.
Proposals from Japan and South Korea would require patent law changes in several RCEP countries, including Indonesia.
Multinational corporations are suing countries for using generic versions of life saving medicines.
Swiss and Norwegians civil society groups addressed their serious concerns over TRIPS-plus provisions being included in the trade agreement under negotiation between the European Free Trade Association (EFTA) and Indonesia.
Civil society organisations, patient groups and health activists have been concerned about intellectual property provisions being discussed in RCEP which undermine access to medicines and affordable treatment for patients
In many countries, the implementation of the TRIPS-plus measures has significantly increased the cost of medicines.
Canada’s negotiators extended data protection on biologics without knowing impact on prices.
Patients may need to wait an extra five or 10 years to access generic medicines, which could raise healthcare costs by as $100 billion over the next five years, according to the latest CPhI annual report
Experts are fuming, saying USMCA will hamper Canada’s innovation economy and hike costs to the health care system over patented drugs.
The United States has throughout history been the principal demandeur of maximalist intellectual property, backed by a powerful pharmaceutical lobby.
The 10-year span is more than what had existed before but the biopharma industry has long argued for the same 12-year exclusivity that exists for biologics within the US market.
While some states in East and Southeast Asia favor the 16-nation RCEP trade deal, many civil society groups say it lacks transparency and public participation.
A leaked draft of the negotiating text has revealed some proposed harmful intellectual property provisions that could undermine access to price-lowering, generic medicines, and thus, life-saving treatment to millions of people.