Strong intellectual property rights are crucial for expediting clinical trials for preventive vaccines.
Nobel laureate Paul Romer’s key new insight was that human capital can produce ideas.
Reform proposal misrepresents the nature of the global market and role of intellectual property.
Back when Canada's premiers and then-Prime Minister Pierre Trudeau debated what to put into what later became the Canadian Charter of Rights and Freedoms, property rights were one possibility and on the table.
Trudeau had pushed for property rights as justice minister in 1968, again as prime minister in 1969, and in 1980 during constitutional talks. But property rights never made it into the final 1982 Charter because Trudeau and Bill Bennett, then-Premier of British Columbia, were the lone advocates.
The recent announcement of an agreement in principle on the free trade deal between Canada and the European Union is no doubt a positive development for the Canadian economy and ultimately Canadian incomes and standards of living. Part of the agreement getting some misinformed attention however pertains to improvements in Canadian protections of pharmaceutical innovator intellectual property.
Innovative new medicines can have a profound impact on the health and wellbeing of those stricken with illness. Unfortunately, Canadians are often denied these benefits for months, if not years, while they wait for their government to approve drugs already deemed safe and effective by regulators in the European Union and United States. Smarter regulation could save resources, reduce patient suffering, and improve the lives of Canadians.