Alternative Incentives for Pharmaceutical Innovation

Intellectual Property Journal, Vol. 27, No. 1m p. 13, December 2014

51 Pages Posted: 18 Oct 2015

See all articles by Shamnad Basheer

Shamnad Basheer

Nirma University - Institute of Law

Date Written: 2014

Abstract

The current patent system is muddied with manifest muck. Even those that revere its relevance for R&D intensive sectors such as pharmaceutical drugs, admit of its various failings, particularly when it comes to incentivising research into neglected diseases. A number of alternative innovation incentives have therefore been proposed. This paper highlights some of these alternatives (such as prizes and open source drug discovery) and evaluates their optimality from a policy perspective. It divides the alternative proposals into those that directly substitute for the current patent and data exclusivity regime (such as an investment protection regime) and those that cater to neglected or developing country diseases (such as advanced market commitments). Finding that almost all the alternatives suffer a shortcoming or two, it recommends the combination of multiple incentives to yield better policy outcomes.

Keywords: pharmaceutical patents, incentives, innovation, neglected diseases, investment, TRIPS, WTO

JEL Classification: O34, K10, K33

Suggested Citation

Basheer, Shamnad, Alternative Incentives for Pharmaceutical Innovation (2014). Intellectual Property Journal, Vol. 27, No. 1m p. 13, December 2014, Available at SSRN: https://ssrn.com/abstract=2675790

Shamnad Basheer (Contact Author)

Nirma University - Institute of Law ( email )

Sarkhej-Gandhinagar Highway
Gota
Ahmedabad, Gujarat 382 481
India

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