Enhanced IP protection for medicines will help Canada with trade agreements, says think-tank

Canada’s protection of intellectual property (IP) in the pharmaceutical industry falls short of international standards and could hinder its ability to negotiate new free trade agreements with the European Union and the Trans-Pacific Partnership, argues a new report from the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.

“Pharmaceutical innovators face shorter effective periods of patent protection in Canada, fewer years of data exclusivity, and an unequal court appeal process compared to the property protections available in the United States and European Union,” said Kristina Lybecker, Fraser Institute senior fellow and associate professor of economics at Colorado College. “By strengthening IP protection, Canada has a greater chance of increasing trade, gaining access to foreign markets, and reducing tariffs and trade barriers,” Dr Lybecker opined.

The Trade and Economic Benefits of Enhanced Intellectual Property Protection for Pharmaceuticals in Canada examines whether the higher cost of medicines that would result from enhanced IP protection are outweighed by potential gains from trade and economic growth. The report comprises essays by Drs Lybecker and Laura Dawson, international trade specialist and former senior advisor to the US government.