The global politics of intellectual property rights and pharmaceutical drug policies in developing countries

One of the major characteristics of the emerging international economic order is the treatment of intellectual property rights (IPRs). Developing country Members are very concerned about the impact that the World Trade Organization (WTO) Agreement' on Trade-Related Aspects of Intellectual Property Rights (TRIPS) will have on their, economies. Of particular concern are those aspects of the Agreement that relate to the issue of access to new pharmaceutical inventions. TRIPS emphasizes a property rights approach whereby,private "owners" of the inventions can restrict access on the basis of commercial considerations. As a consequence, higher prices, for pharmaceuticals and other healthcare inventions can prevent low-income consumers in developing countries from obtaining life-saving medications and equipment. It is true, of course, that exploitative business practices are possible only to the extent that monopoly positions are tolerated. Many developing countries, however, lack the necessary financial resources and have not yet developed appropriate competition rules to deal effectively with the challenges presented by the TRIPS Agreement.