Industry Trend Analysis - Intellectual Property Concerns Pose Risks To Innovative Drugmakers - MAY 2017
BMI View: Australia remains one of the most attractive markets globally for innovative drugmakers due to the strength of its regulatory environment, and the population ' s wealth and positive demographic trends. Intellectual property protection, however, remains a significant concern for patented drugmakers , reducing the appetite for swift new product launches.
The Pharmaceutical Research and Manufacturers of America (PhRMA) produces an annual submission to the United States Trade Representative (USTR) for inclusion in its Special 301 report, highlighting the challenges faced by innovative pharmaceutical firms in key international markets. The 2017 submission has recently been published and, as in every year since 2012, Australia has been recommended for inclusion on the Watch List, indicating serious intellectual property rights deficiencies. Australia is one of seven Asia Pacific countries included in the report, highlighting the importance of the region to multinational pharmaceutical firms, and the continued challenges posed by weak regulatory environments.
Intellectual Property Regime The Primary Issue
|IP Regime Limiting Market Attractiveness|
|Top 10 Global Markets: Patent Respect Indicator of RRI|
|Note: Score out of 100; higher score = lower risk. Source: BMI's Risk/Reward Index|