Presentation Title

Intellectual Monopolies: Intellectual Property Rights and the Pharmaceutical Industry

Presenter Information

Christopher Herbert

Location

IB 1020

Start Date

19-3-2016 10:30 AM

End Date

19-3-2016 10:45 AM

Abstract

Decisions and agreements made through the World Trade Organization have unequal consequences on different regions and people all over the globe. No example explains this best than the Agreement on Trade-Related Aspects of Intellectual Property (TRIPS), and how it relates to the intellectual property rights of pharmaceutical corporations. Though originally intended to increase incentive and innovation within the industry, patents on intellectual property have resulted in powerful pharmaceutical monopolies, which not only restrict competition and thus, decrease incentive and innovation, but also keeps the price of medications high. People living within developing nations feel the consequences the most, having very limited access to life saving treatments and medications. This presenter will argue that TRIPS, and intellectual property patents, are overall bad for the pharmaceutical industry and the consumers. The presentation will then explore some possible solutions for the problems caused by patents.

Department

Sociology

Faculty Advisor

Monica Sanchez-Flores

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Mar 19th, 10:30 AM Mar 19th, 10:45 AM

Intellectual Monopolies: Intellectual Property Rights and the Pharmaceutical Industry

IB 1020

Decisions and agreements made through the World Trade Organization have unequal consequences on different regions and people all over the globe. No example explains this best than the Agreement on Trade-Related Aspects of Intellectual Property (TRIPS), and how it relates to the intellectual property rights of pharmaceutical corporations. Though originally intended to increase incentive and innovation within the industry, patents on intellectual property have resulted in powerful pharmaceutical monopolies, which not only restrict competition and thus, decrease incentive and innovation, but also keeps the price of medications high. People living within developing nations feel the consequences the most, having very limited access to life saving treatments and medications. This presenter will argue that TRIPS, and intellectual property patents, are overall bad for the pharmaceutical industry and the consumers. The presentation will then explore some possible solutions for the problems caused by patents.