Transfer Pricing Associates

Biotechnology Report Promoting IP Rights

post Friday July 13, 2012

Tags: biotechnology, intellectual property rights, ip

BIO logo in jpeg format

Biotechnology Industry Organization (BIO) put its name to a report at the annual meeting in Boston, promoting the advantages of intellectual property rights for the industry.

The report commissioned by BIO, “Taking Stock: How Global Biotechnology Benefits from Intellectual Property Rights,” was prepared by an IP rights proponent. In a release, BIO said that they found the following:

Joseph Damond, BIO senior vice president of international affairs said in a release that “This report is further proof of the positive impact of intellectual property rights in both established and emerging economies, and will be a useful tool as we work with the many countries seeking to grow the biotechnology industry. We felt it was important provide empirical evidence and case studies for a more informed discussion on the role of intellectual property in global economic development and in commercializing innovative products for patients and other consumers.”

The use of IP flexibilities by developing countries, permitted under international trade rules, is also critiqued in their report. The report also seems to support the position that more patents are a ready measure of positive economic activity. The conclusion that IP rights can benefit innovation is not new, and in fact, is the very intent behind the monopoly rights, along with providing a benefit to society.

Source: IP-Watch
Image courtesy of: BIO

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