Brazil OKs Intellectual Property Bill

26 May 1996

Brazilian president Fernando Henrique Cardoso has approved the new patents law which took Congress five years to approve (Marketletter May 6). It complies with World Trade Organization guidelines, allowing industrial property patents for drugs, chemical and biotechnology products and foods.

Copying of an existing product will now be subject to royalties of 3%-4% paid to international patent holders. The "pipeline" aspect of patents is also recognized in relation to new products, especially medicines, still in development.

The law mainly affects the drug sector. Science and Technology Minister Israel Vargas says it will lead to a "0.7%-1.5% increase" in R&D investment, and closer cooperation between local and multinational drugmakers. "We are going to share knowhow and transform the country in such a way that it will be the master of its own destiny," says Pres Cardoso.

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