Construing Intellectual Property Rights and Competition Policy Consistently with Facilitating Access to Affordable Aids Drugs to Low-End Income Consumers

Abstract

This article regards the problem of access and affordability of drugs to impoverished consumers. The article first explores the Trade-Related Aspects of Intellectual Property Rights (TRIPS) consistent possibilities which balances the interests of the pharmaceutical companies and consumers, and is based on the idea that intellectual property rights are a market commodity, but that, in order to be consistent with TRIPS, that commodity can be encumbered to protect the interests of producers and consumers. It also requires assessing intellectual property rights in developing countries and their views of non-obviousness and novelty.

The second approach is to analyze the Food and Drug Administration’s regulatory framework as it applies to the pharmaceutical industry. The result of the framework is high barriers of entry into the industry which creates an exclusionary impact, thus creating monopoly. This article proposes a consumer-driven strategy to end market concentration to create more affordable drugs through competition.