AusBiotech at odds with recommendations in IP Draft Report

Trade group AusBiotech said today it has provided a submission in response to the Australin Productivity Commission’s Intellectual Property (IP) Arrangements Draft Report, disagreeing with numerous recommendations in regard to patents and data protection.

AusBiotech made the submission to the Draft Report ( released in April 2016) after also making a submission to the Issues Paper on Australia’s Intellectual Property Arrangements ( November 2015).

AusBiotech said in its submission on behalf of members that it does not agree with the recommendation that the Innovation Patent system should be abolished, and instead proposes serious consideration be given to improving the system. AusBiotech said that the objects clause proposed is not suitable and that patent extension period should not be decreased. Extensions to patent life for health technologies such as pharmaceuticals are important because the regulatory and reimbursement processes consume years of patent life - and the period or the possible period of the patent influences the decisions of and value to investors.