Well for all those who are concerned about the growing prices of the pharmaceutical products and inaccessibility of relevant medicines around the globe at affordable prices, here is the solution " Medicines Patent pool". The Medicines Patent Pool aims to improve access to affordable and appropriate HIV medicines in middle or low income countries.Because of the increasing global pharmaceutical patenting, the pharma firms set up a monopoly in the global markets. Knowing that the usual term of patent as 20 years, it becomes difficult for people to afford the already set higher prices of the patented medicines, especially for the low income and underdeveloped and nations, an affordable access to appropriate medicines will aid in efficient healthcare facilities.
Through a patent pool, patent-holders agree to share their intellectual property with each other or with third parties through the negotiation of licences.The methodology of working involves the pool negotiating with the pharma's or the inventors directly to share their patents with the pool and securing a considerable royalty in return of allowing another producer to manufacture and sell the generic version of their medicines in developing/undeveloped countries.The interested manufacturers can obtain a license from the pool for manufacturing the drug in question.The pool will initiate the production of fixed dose drugs (FDC) which will ease the treatment of the patients and will facilitate a treatment scale up in developing countries.You can access selected publications from the pool here. With big pharmaceutical giants showing willingness to join the pool, the future seems vibrant for the global healthcare system.
( Image Courtesy medicine patent pool )
