Posted by Michael Wonder on 26 Jul 2019
Intellectual property law amends will add to business uncertainty
26 July 2019 - Medicines Australia supports efforts to strengthen Australia’s Intellectual Property arrangements to be consistent with international best practice, however, it is disappointing that the government has instead proposed legislation that undermines innovation and further weakens our attractiveness as an investment and innovation destination.
By not accepting Medicines Australia’s recommendations Australia is missing an opportunity to demonstrate our desire to be a top destination for investment in research and development into the latest medical breakthroughs.
The Intellectual Property Laws Amendment (Productivity Commission Response Part 2 and Other Measures) Bill 2019, introduced yesterday, will add to business uncertainty and signal that Australia is not interested in growing our economy through expansion of medical and biotherapeutic research and development.
