Don’t look now, but the TPP just hit a major snag

Trans-Pacific Partnership (TPP) talks were supposed to be winding down at ministerial meetings in Hawaii, but negotiators can’t quite seem to get over major policy disagreements.

“For example, the U.S. wants to protect profits for the pharmaceutical industry by increasing exclusivity times for prescription drugs, including lucrative biologics that often cost tens of thousands of dollars per treatment. Generic drug manufacturers would not be able to make cheaper knock-off versions for 12 years, a much longer exclusivity period than the current standard in TPP partners like Australia, Chile and New Zealand. Those countries have rejected intellectual property barriers posted for the benefit of large drug companies.”

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