Canada's Research-Based Pharmaceutical Companies (Rx&D)

Canada's Research-Based Pharmaceutical Companies (Rx&D)

September 26, 2014 13:00 ET

Canada's Research-Based Pharmaceutical Companies (Rx&D) Commends the Government of Canada on CETA, and Advises Prompt Implementation

OTTAWA, ONTARIO--(Marketwired - Sept. 26, 2014) - Canada's Research-Based Pharmaceutical Companies (Rx&D) expressed its support to the Government of Canada today as it reached another milestone in the finalisation of the Comprehensive Economic and Trade Agreement (CETA) with the release of text at the Canada-EU Summit held today in Ottawa.

"It is quite exciting to see Canada achieve another landmark in its work to finalize this historic trade agreement," said Russell Williams, President, Rx&D. "To help Canada become a stronger, more competitive country, we encourage the Government of Canada to move expediently on implementing CETA. 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 improved healthcare system and better health outcomes."

The life sciences intellectual property improvements included in CETA are:

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.

"We have world-class science, researchers and infrastructure. Completing and implementing CETA is a step towards making Canada a world-class destination for investment. Improving our intellectual property regime is essential to strengthen Canada's position as globally competitive. Becoming a leader on the international stage can lead to more investment in the research and development of innovative medicines and vaccines," added Mr. Williams.

About Rx&D

Rx&D is the association of leading research-based pharmaceutical companies dedicated to improving the health of Canadians through the discovery and development of new medicines and vaccines. Our community represents the men and women working for more than 50 member companies which invest more than $1 billion in research and development each year to fuel Canada's knowledge-based economy, contributing over $3 billion to the Canadian economy. Guided by our Code of Ethical Practices, our membership is committed to working in partnership with governments, private payers, healthcare professionals and stakeholders in a highly ethical manner.

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