EU proposes changes to IP rules, legalizes generic drug production
Date: 2018-05-30   Author: Dhananjay Punekar  Category: #news

EU proposes changes to IP rules, legalizes generic drug production

The European Commission has decided to make amendments in its intellectual property legislations in order to encourage pharmaceutical firms to manufacture generic medicines. The drug production would be slated for the nations where they are not covered under extended copyright protection.

The EU had introduced supplementary protection certificates that help in extending the duration of specific rights linked with the patents post their expiry period. The EC states that while these guidelines were initiated to support the research funding in Europe, many of the drug manufacturing firms are now looking towards production of generic drugs for non-European nations.

Sources cite that with the changes in the EU’s intellectual property laws, biosimilar firms in Europe will now be able to produce generic medicines in Europe and then export them to those regions where no laws related to copyright protection exist. Elzbieta Bienkowska, an EU Industry Commissioner, has announced that the move is aimed at generating a business of nearly ninety-five billion euros across the globe. She further added that EC took inspiration from Canada, where the strategy worked successfully and helped in the expansion of the pharma sector in the country in addition to offering jobs for the locals.

According to the EC, the proposal can generate net sales of nearly USD 1.2 billion each year after it receives approval from the European parliament as well twenty-eight-member countries of the EU. However, some of the original drug manufacturers have claimed that the decision can weaken the IP protection and can adversely impact the funding of the research activities in Europe.

The European Federation of Pharmaceutical Industries has raised concerns over the decision taken by the EC and has commented that the generic drug manufacturing waiver will pose a risk for the patient access to new therapies. But, the Medicines for Europe, representing generic drug manufacturers, has defended the decision of EU, emphasizing that it will help in the reduction of the medicine costs, thereby benefitting the Europe healthcare market.



About Author


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

L Catterton purchases steakhouse restaurant chain Del Frisco’s
Author: Paroma Bhattacharya

The stakeholders of Del Frisco will receive $8 for each share, that is, an 18.9% premium to the last closing price.

Texas base...


Tata Power to raise minimum Rs 4,000 cr through renewables InvIT
Author: Pankaj Singh

The company would also aim to reduce the debt level by selling non-core assets

Tata Power, the largest private power company in India, is keen on raising funds t...


Yiwu collaborates with Alibaba to boost digital transformation efforts
Author: Pankaj Singh

Yiwu, one of the most favored destinations in China amongst overseas traders, is reportedly in talks to explore new trade channels in alliance with domestic e-commerce giant Alibaba, in order to speed up the digital tr...