WTO TRIPS Agreement- Current state of Pharmaceutical Industry and Policy Options for Bangladesh

Abstract

The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) requires adoption of a minimum patent standard for all countries. It is often argued by developing countries that the introduction of a uniform (and minimum) patent standard for all countries irrespective of their level of development would prevent people from access to medicines. Moreover, in developing countries, the drug expenses are being paid out of pocket by the patients unlike developed countries where insurance companies bear the burden. In this regard, an empirical study was conducted on pharmaceutical stakeholders consisting of leading pharmaceutical companies, drug administration of Bangladesh (the regulatory authority), leading experts on industrial pharmacy, academics, and leaders of Bangladesh Association of Pharmaceutical Industries. The study finds that price of medicines will go up and access to health will be denied once Bangladesh enters the patent regime. The perceived impact on the industry however is mixed. The paper concludes with some policy considerations that the government and the industry should consider to ensuring that the patients have access to medicines at an affordable price.