Pharma

EU urged for funding generic drug industry

The European Parliament will be demanding for funds to creation of a generic drugs industry in poor countries as the long-term solution to the developing world’s health crisis. Gianluca Susta, the Italian Liberal Member of the European Parliament (MEP) has argued that providing subsidized drugs increased the dependency of poor states. So, the only long-term solution is to give developing countries the ability to provide for the health needs of their population. This means helping the developing countries build up their own production and research facilities. Mr. Susta has declined to put a figure on the fund, which would probably have to come from EU aid budgets. If the fund were not established, he said, parliament would block EU attempts to have the waiver converted into a permanent protocol to TRIPS [Trade-Related Aspects of Intellectual Property Rights]. The European Commission believes that would be counter-productive as the deal is the best poor countries would get. The 1994 TRIPs agreement is under pressure from Brazil and Thailand, which have issued compulsory licenses for domestic companies to make copies of branded medicines. Western drugmakers say that without patent protection, they will invest less in research on new products.

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