6 October 2015 - The outcomes of the negotiations for the Trans-Pacific Partnership agreed to in Atlanta overnight are a disappointing outcome and a missed opportunity to stimulate and grow the Australian biopharmaceutical industry.

Just last month, the Prime Minister declared that innovation would be at the centre of the Federal Government; the decision not to support greater data protections for innovation sends the reverse signal.

Data protection is a form of intellectual property which is very limited in its application in Australia and is separate to patent protection. It is nonetheless increasingly important as biological medicines become more complex and uncertain in their patentability.

We are aware of some instances already in which biological medicines were not brought to the Australian market due to Australia’s short data protection period.

Increasing data exclusivity periods would have no negative impact on Australian’s access to the latest medicines and would not increase the prices which patients pay through the Pharmaceutical Benefits Scheme (PBS).

For more details, go to: https://medicinesaustralia.com.au/media-release/tpp-a-missed-opportunity-for-the-australian-biopharmaceutical-community/