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Published in:
2021 | OriginalPaper | Chapter
Research on Patented Drugs and Compulsory Licensing
Author : Yunqing Luo
Published in: Proceedings of the 4th International Conference on Economic Management and Green Development
Publisher: Springer Singapore
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Abstract
Motivated by the COVID-19 drugs and vaccination competition, I want to discuss some core characteristics of drugs as a special good in the market. During this paper, we are hoping to discuss the uniqueness of drugs when it comes to the regulation policy: patented drugs and generic drugs. We will be able to understand how the companies and patentee get economic profits with high R&D costs. Because drugs are highly connected to people’s well-being, I will also go over the current status of compulsory licensing of drugs and history. We will see how developing countries use the TRIP Agreement to improve certain disease situations with real examples.