Intellectual property rights

Abstract

This paper explores the complex relationship between drug patents and access to medicine, highlighting the implications for public health and innovation. Patents play a crucial role in incentivizing pharmaceutical innovation by granting exclusive rights to inventors for a limited period of time. However, the monopolistic nature of patents can hinder access to essential medicines, especially in developing countries where affordability is a significant barrier. This paper examines the balance between fostering innovation and ensuring affordable access to medication, emphasizing the tension between patent care and public health objectives. Key issues discussed include the impact of patents on drug pricing, the role of generic competition in lowering prices, and the strategies employed by pharmaceutical companies to extend patent protection. The paper also discusses the role of international trade agreements and intellectual property laws in shaping access to medicine, focusing on the flexibilities in compulsory licensing and parallel imports. Through a review of case studies and empirical evidence, this paper evaluates the impact of various policy interventions designed to reconcile patent rights with public health priorities. These include initiatives to promote technology transfer, strengthen generic competition, and enhance regulatory frameworks for patent examination and enforcement. The paper also considers the importance of balancing incentives for innovation with safeguards against abuse. This ensures equitable access to medicines for all.