Question

What best describes the trade offs of pharmaceutical patents?

Answer 1

Soln.:

TRADE OFFS OF PHARMACEUTICAL PATENTS CAN BE UNDERSTOOD BY GIVEN DESCRIPTION.

Patent rights are being more complicated in the developed countries during the last decade as Generic medecines are being developed for deseases like HIV, TB and Hepatitis C and other communicable deseases, these medicines are very low in price as compare to branded medecines so as its demand rises very much in the developing nations, developing countries has high burden of deseases and the affordability of patients is very low.

One the other hand, pharmaceutical patents iis a kind of incentives fot the manufacturer of medicine to innovate and maximise their production. but these days this patent is being misused by some of the companies and it results in the price rise of many percision medicines which are highly demanded in the developing countries.

so as the the circumstance big multinational pharmaceutical companies are in stress.

But the patenting laws of WTO on Trade Related Aspects of Intellectual property (TRIPS) allow the patent to be in existence for the period of 20 years which somewhere relaxes the producers as in the given period they can have their returns but this will rise the prices of the respective drug during the given period and make it unaffordable in developing countries.

so it can be said that the trade offs of pharmaceuticals patent is the price rise of the medicines in the developing coutries for 20 years and during this the big multinational manufacturers yield their returns which encourages them to innovate many new effective drugs.