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 pockets 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.