Washington, D.C. (May 19, 2011) – Pharmaceutical Research and Manufacturers of America (PhRMA) Vice President International Jay Taylor released the following statement today:
“The 28 Senators who signed the bipartisan letter to President Obama should be commended for their leadership in pushing for strong intellectual property protection (IP) in the Trans-Pacific Partnership Agreement (TPP).
“The letter states that ‘A TPP agreement with strong protections for intellectual property promises to be an important means of ensuring that U.S. companies can continue to innovate and grow in this global economy, thereby allowing us to retain high-quality skilled jobs here in the United States. We urge you to use this as an opportunity to advance 21st-century IP protections that will allow America’s innovative and creative industries (responsible for 19 million American jobs) to continue to compete globally and thrive.” PhRMA strongly believes that anything less would be detrimental to all IP industries.
“Senators Orrin Hatch (R-UT) and Maria Cantwell (D-WA) spearheaded the effort that urges the Administration to push for strong IP protections as the TPP agreement is intended to be expanded to more than the current eight countries. These eight nations are critical for U.S. exporters and the nation if we are going to meet the goal of doubling exports as part of the President’s National Export Initiative.
“It is imperative that we have strong IP provisions in the TPP, as we believe that this will set the direction for the U.S. treatment of innovative industries in all future trade agreements. IP protection must be up to the standards of U.S. law if we are to realize the full potential of the U.S. innovative industries.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier and more productive lives. PhRMA companies are leading the way in the search for new cures. PhRMA members alone invested an estimated $49.4 billion in 2010 in discovering and developing new medicines. Industry-wide research and investment reached a record $67.4 billion in 2010.
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