Cabinet urged to accept cheap-drug amendment to TRIPS pact
The Commerce Ministry will soon propose to the Cabinet that it ratify the 2005 amendment of the World Trade Organisation's Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement to promote growth of the pharmaceutical industry and export
The amendment makes permanent a waiver making it easier for poorer countries to obtain cheaper generic versions of patented medicines. Under the existing TRIPS Agreement, certain clauses could hinder exports of pharmaceuticals manufactured under compulsory licences to countries that are unable to produce them.
However, the amendment must be ratified by twothirds of WTO’s 157 members to take effect. To date, only 70 member states have done so, while at least 105 are required.
The Nation
