London, UK – In a report published today by the House of Commons International Trade Committee, Members of Parliament suggested that the UK enact compulsory licensing for COVID-19 treatments. Under compulsory licensing laws, the government has the power to revoke patent rights from innovators and companies if a discovery they made provides treatment or protection related to a national health emergency. Fred Roeder, Health Economist and Managing Director of the Consumer Choice Center warns that eroding intellectual property will end up harming patients, and will hurt the UK’s chances of accessing a cure or vaccine:
“Compulsory licensing is threatening to move the goalposts on how intellectual property rights are protected. If domestic and foreign companies are prevented from retaining their patent licenses, this could hinder the production and supply of essential goods to the UK further than they already are. A compulsory licensing bill could place even more barriers for pharmaceutical innovators, which could discourage these kinds of companies from investing or listing their drugs in the UK.
There are other solutions to ensure easy access to vaccines and drugs. For example, mutual recognition of FDA and EMA approvals and fast-tracking some types of medicines would do a lot of good. In order to be prepared for the next pandemic, we need to increase, not curb, incentives for innovation. Right now we need to do everything that makes pharmaceutical research more agile – Introducing compulsory licensing on COVID drugs and vaccines is not the right way. Any help it provides in the short term will jeopardize our ability to tackle this health crisis in the long run,” concludes Roeder.
Originally published here.
The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.
The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org