360 Degree Global Trade and the Urgent Need for the Trans-Pacific Partnership

  • CMPI | by: Peter J. Pitts |
  • 05/11/2016
When it comes to global trade, there is no value to living in the past. We no longer trade in barter or beads. The Trans-Pacific Partnership (TPP) acknowledges that we live in a global village – and innovation is an essential commodity. Why are some people finding this so surprising? 

The evolution of the TPP has been long and arduous – but the basic premise has never changed. In order for global trade to flourish in an equitable manner, there have to be rules. Minus the rule of law, chaos ensues and we find ourselves in a survival of the fittest situation without fairness, predictability, or incentives for innovation. In a world without rules, ambiguity trumps investment and risk outweighs rewards.

One of the more important aspects of the TPP is intellectual property (IP) protection for biopharmaceutical innovation. This is of particular importance to the United States, where the U.S. biopharmaceutical research sector leads the world in the development of new medicines with about 4,000 in development or FDA review in the U.S. and more than 7,000 in development worldwide. This sector generates high-quality jobs and powers economic output and exports for the U.S. economy, serving as the foundation upon which one of the U.S.’ most dynamic innovation and business ecosystems is built.
 
Sign Up for Our Email Newsletter

RECENT NEWS

Gottlieb Likely to Take On Off-Label, Predictability at the FDA

Gottlieb Likely to Take On Off-Label, Predictability at the FDA

Dr. Scott Gottlieb is the right man in the right place at the right time....  Read more

Pharmaceutical Industry Raises Issue with Cuomo's Drug Price Control Proposal

Pharmaceutical Industry Raises Issue with Cuomo's Drug Price Control Proposal

CMPI President Peter Pitts appears on NY1 News to discuss Governor Cuomo's prescription drug proposal...  Read more

U.N.'s errant prescription for drug access

U.N.'s errant prescription for drug access

The U.N.'s war on IP rights ignores the real barrier to drug access: insufficient medical infrastructure....  Read more

DRUGWONKS BLOG