Question

There are over 25 million people infected with HIV in sub-Saharan Africa.Virtually all of these will develop AIDS and die prematurely. With recent advances in anti-retroviral medicines the onset of AIDS can be prevented in most HIV carriers in the developed world and they can lead full and generally healthy lives. These medicines are available but they are not accessible in the developing world as their prices are beyond the reach of sufferers in these countries.

Using this and other examples explain why the monopoly powers granted by intellectual property rights attempt to strike a balance between access to existing products and availability of new products.

Answer 1

The Economic Development of the country was guaranteed only when Health Security of all the people are properly ensured. Without proper health conditions the common people cannot satisfy their economic needs. The Spending for Medicine is the another crucial thing if some people are caught with Crucial and Non-curable Disease. Acquired immunodeficiency syndrome (AIDS) Aids is the disease which cannot be curable. HIV is the virus which will spread enormously unusually and cause infection in the body and ultimately lead to Aids disease. But the Advancement in Medical Technology prevailing in the modern medicine world, the Anti-Retroviral Medicines are available to prevent the AIDS. We aware that sub-saharan Africa was a cluster of Developing African Countries in which 69% of the people are living below the poverty line. Nearly 25 million of people belongs to sub-saharan African people. Food security is itself posing a serious threat to the people in Africa. So the people are not able to afford the price for the Anti-Retroviral medicine for Aids Treatment.

World Trade Organizations (WTO) has framed the Patent Law of Agreement based on supply of the Essential Medicines. In 1967, World Intellectual Property Organization (WIPO) was formed by UN. But many advancements were witnessed after the existence of WIPO. Many Monopolist of developing and Developed nations are striving to supply the existing products and the availability of new products of Anti-Retroviral Medicines. According to the requirement of the Medicines in the case of emergency, Monopolist firms fixes the prices which are high in nature. The Monopoly Medicaly Firms spends huge fund on Research and Development to produce Anti-Retroviral Medicines. So the firms cannot find the markets in the African Countries and also there will be huge gap between Existing and the New products to sell them with affordable prices. So the price goes beyong the Govt budget so the Market for the medicines faces failure.