Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

S.Africa tackles drugs patent reform  Join our daily free Newsletter

MENAFN - AFP - 09/09/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) South Africa's government has published a draft intellectual property policy with potential far-reaching effects for pharmaceutical patents, which rights groups hailed Monday as a move towards lower medicine costs.

If accepted, the reforms will facilitate the production of cheaper, generic medicines, according to Doctors Without Borders (MSF) and local AIDS-activist group Treatment Action Campaign.

The policies "set the stage for changes that promise to increase competition in the pharmaceutical sector and lower the price of medicines in South Africa," the group said in a statement.

South Africa's current laws allow firms to renew patents indefinitely by changing minute elements in a medicine's composition.

"This allows companies to extend the life of their monopolies, block competition from generic manufacturers, and charge inflated prices for medicines in both the public and private sector," said the rights groups.

The new patent policies will allow the production of generic medicines and grant over five million South Africans living with AIDS or multi drug-resistant (MDR) tuberculosis access to treatments.

The country's powerful drug-makers treated the draft with caution.

"We would support anything that would increase IP (intellectual property) protection," said Val Beaumont, who heads the Innovative Pharmaceutical Association of South Africa.

The Department of Trade and Industry invited public consultation on the text until October 4, though the policy could take years to finalise.

According to the document, South Africa does not have a written national IP policy which has led to a fragmented approach to such matters.


 






  MENA News Headlines


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help