Biopharmaceuticals: Saving Lives and Saving Money

The biopharmaceutical sector invests in research that improves health and lengthens lives. Researchers in the biopharma industry are working on treatments for diseases than range from AIDS to Tuberculosis to West Nile Virus. These medicines improve the quality of our lives and also lower our healthcare bills. Research shows that each dollar increase in pharmaceutical spending yields as reduction in hospital expenses of $3.65.

Economic and Social Benefits of Medical Innovation

Technology is, to a remarkable degree, a local not global asset. Research has established that innovation in high tech industries is enhanced by geographic concentration, which facilitates R&D spillovers. Proximity facilitates collaboration, technological spillovers and enhances innovative productivity. All of these benefits are facilitated by an environment of secure intellectual property rights and safeguards for innovation.

Trade, Innovation and Health

Recent months have seen increasing coverage of the Trans-Pacific Partnership (TPP), and an increasing number of contributions and expert opinions on the value of this agreement. There is growing recognition of the importance of the TPP for America’s innovative industries and the pharmaceutical and biotech industries in particular. These industries provide a telling glimpse of the critical nature of intellectual property (IP) protection to the US economy. The value of IP protection is essential to both public health and safety, as well as US jobs.

America's TPP Touchstone: To grow, innovate. To innovate, protect intellectual property rights.

Every country's competitiveness and economic well-being ultimately depends on its companies' ability to innovate. So governments' trade policies should help companies to successfully realize returns on their innovative capabilities so that they have the incentive to continue developing the new products that will improve consumer welfare and deliver rising wages and living standards.

Ensuring TPP Doesn’t Derail Innovation

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September 15th marked the conclusion of the 14th round of negotiations for the Trans Pacific Partnership (TPP) agreement—a multilateral free trade agreement between 11 countries that include some of the fastest growing economies in the Asia-Pacific region. Although negotiators made progress on a number of different fronts, one important issue was not addressed: the need for binding, strong intellectual property (IP) protections. Intangible assets such as IP comprise an ever-increasing proportion of an organization’s value. Accordingly, it is critical they protect future innovation by ensuring strong IP provisions as part of the TPP agreement.




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