Canada’s Research-Based Pharmaceutical Companies (Rx&D) expressed its support to the Government of Canada as it finalized the Comprehensive Economic and Trade Agreement (CETA) with the European Union.
“To help Canada become a stronger, more competitive country, we encourage the Government of Canada to move expediently on implementing CETA,” says Rx&D president Russell Williams. “Canadians rely on innovative treatments as they face serious health challenges, and advances such as CETA will help renew hope, drive investment, support jobs, and lead to an improved healthcare system and better health outcomes.”
CETA includes the following life sciences intellectual property improvements.
- Patent term restoration will offer research-based pharmaceutical companies the potential to recover up to two years of time lost on their patent as a result of lengthy regulatory and government approval processes. Canada is the only G7 nation that does not provide any form of patent term restoration.
- The right of appeal will allow research-based pharmaceutical companies to more effectively appeal court decisions where a patent is ruled invalid, a process that has been available to challengers but not to patent owners to date. Rx&D has maintained that, regardless of the initial court decision, equal appeal rights for both parties are vital for a fair judicial system.
“Completing and implementing CETA is a step toward making Canada a world-class destination for investment,” he adds. “Improving our intellectual property regime is essential to strengthen Canada’s position as globally competitive.”
CETA is scheduled to take effect in 2016.
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