Drug Pricing ‘Not Appropriate Topic’ For WTO TRIPS Council
US And EU Defend Current Innovation Model
The World Trade Organization is not the place to discuss pharmaceutical pricing, and strong intellectual property rights do not threaten access to medicines, according to EU and US delegations to the WTO.
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Last week the World Trade Organization’s TRIPS Council discussed transparency in medicine pricing, including R&D costs.
Public health advocates say that commercial concerns must take a back seat to health interests if COVID-19 technologies are to be made available to those who need them. But industry says that relaxing IP protections is not the solution and that many companies have already invested significant amounts of money in potential new treatments and vaccines.
Recommending new medicines for approval and allowing sponsors of others extra time to answer outstanding questions are among the many tasks on the agenda of the March meeting of European Medicines Agency's key scientific committee, the CHMP. The meeting has been taking place, remotely, this week.