Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

TPP's biologics data protection

TPP's biologics data protection will push up health-care costs, Medical Association says

By Paul McBeth

April 27 (BusinessDesk) - The Trans-Pacific Partnership's longer data protection for biologic pharmaceutical makers will push up the cost of the fastest growing primary health treatment in the country, the Medical Association says.

Biologic drugs account for more than 40 percent of new pharmaceutical products being developed and proposals in the TPP to extend the length of time manufacturers can retain the data in producing those products will delay the introduction of cheaper alternatives, Medical Association chairman Steve Childs told Parliament's foreign affairs, defence and trade select committee.

The trade and investment pact between New Zealand, the US, Japan, Canada, Mexico, Chile, Peru, Australia, Malaysia, Vietnam, Singapore, and Brunei proposes two options on biologics allowing for either eight years' data exclusivity, or at least five years protection plus additional measures to deliver extra market protection. New Zealand currently has a five-year data protection period.

In an oral submission on the TPP Childs said his organisation, which represents medical professionals, is unsure what those additional measures would mean, and that the Medical Association's fears a longer protection period will delay the process to develop generic alternatives to those biologics drugs.

"You're extending your cost monopoly for the producer of the products of the most expensive primary treatment that we offer. It is a concern," Childs said. "It is the future - it is going to be the vast majority of healthcare we're going to provide."

The period covering biologics' data exclusivity was a major sticking point in the TPP's negotiations with the US pushing for a 12 year period, and a one-man US Trade Representatives' Office delegation coming to New Zealand is being seen as another attempt by the agreement's biggest partner to press its case as American policymakers increasingly oppose ratifying the deal.

Last week, Medicines New Zealand, which lobbies on behalf of drug companies, told the committee some firms won't bother supplying New Zealand with certain drugs if government funding through Pharmac wasn't available due to the small size of the private market.

While it didn't oppose the TPP outright, the Medical Association said it also had some concerns over the ability of investors and other states to sue the government if it introduced health policy or regulations that another party didn't like, and also the increased administrative cost of introducing more transparency to Pharmac.

The association requested officials undertake an independent analysis of the agreement to look specifically at how it will affect the health sector.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>

Air New Zealand: Business Travellers Return To The Skies In Record Numbers

After a year of talking to a computer, Kiwis are leaving the office to re-connect with their clients, suppliers, and staff. New figures released by Air New Zealand show domestic business and corporate travel has defied global trends by returning ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>

Commerce: House Values Continue To Climb As New Government Measures Announced

The Government’s new initiatives to quell the rocketing housing market were announced last week, just as house prices hit a new high for the end of March. The average value increased 7.8% nationally over the past three-month period, up from the 6.8% ... More>>