India reflects on ramifications of joining Trans-Pacific Partnership

Concerned at being sidelined from the USA-led Trans-Pacific Partnership (TPP) trade deal, India is preparing to reach a deal this year amidst preparations to deal with the adverse impact, reports The Pharma Letter’s India correspondent.

Though global opinion is sharply divided about the ramifications of the TPP, in India, the questions doing the rounds are does the TPP extend protection of Intellectual Property Rights (IPR); does it delay generic competition for life saving drugs; and does it keep medication prices high?

Citing examples to buttress their point, TPP opponents state that in Australia, evergreening patents have enabled pharmaceutical companies to prevent cost-cutting generic competition for nearly 50 years on some products. Moreover, in 2001, the cost of Gleevec, a breakthrough drug against leukemia, was $30,000 in the USA. After the patent holder obtained a new form patent for the drug, the price rose to $92,000 per year.