In a positive debate about a later agreement to the current continental trade pact, Mexico’s chief negotiator of NAFTA states that patent protection provisions for biologic drugs, a growing category of medicinal medicines, will be decreased.
The two countries and the United States concluded additionally terms for a newly negotiated agreement between the U.S. and Mexico Canada, which was the successor to the North American free-trade agreement, on Friday Jesus Seade, Deputy Minister for Foreign Affairs, was to visit Ottawa with Premier Justin Trudeau and Deputy Prime Minister Chrystia Freeland.
This includes the time these new biologics are produced before rivals can manufacture generic versions of the drug.
These further discussions on USMCA come out of US talks between the administration of the Trump and Congressional DemocratsDemocrats won control over the House in 2018 and the fact that their caucus has long worried about job losses and a drop in drug prices is crucial for USMCA’s transfer. The USA. The United States.
One of the most important compromises of Canada in the renegotiation of NAFTA was patents protection: toughing regulations protecting big pharmaceutical companies from competing for some of their most expensive prescription medicinal products. If implemented, that change would cost Canadians an estimated $169 million in additional drug expenditures annually.
A USMCA clause will guarantee 10 years of data security for new biological medicines for pharmaceutical companies. This rule would force generic medicines companies to wait longer to introduce competing alternatives, in addition to existing patent protection measures.
12 years of exclusivity in biologics are already given by the United States to drug companies. Yet Canada provides 8 and Mexico 5 only, which means that if USMCA comes into force they would both change their rules.
In other developments, as part of a renegotiated free-trade deal, Canada is being asked to contribute funding to Mexican workers’ reforms, according to a well-known source.
Mr. Seade said the reporters were ‘ very close to the end ‘ of those additional USMCA talks, but most of the complex issues remain.
Four issues dominate these USMCA transit negotiations: tighter labor standards in Mexico, a robust dispute settlement process, drug-related patent protection, and environmental protection, a subject well known to the discussions.
The possibility of foreign control over their working practices has already stirred up in Mexico. Mr. Seade, however, pointed out that Mexican President Andres López Obrador wants to fix the labor system in his country and will make Canada a part of the solution.
The same well-known source of negotiations said that the United States tends to contribute money to labor reforms in Mexico. And they said that there is an application for Canada’s contribution, and even though this is unresolved, it would probably amount less than the Americans contribute if it were to proceed.