Washington, D.C. (February 18, 2010) — Pharmaceutical Research and Manufacturers of America (PhRMA) President, International, Christopher Singer issued the following statement on the completion of the U.S.-Israel Special 301 Out-of-Cycle Review:
“PhRMA applauds the outcome of the U.S.-Israel out-of-cycle review that has resulted in an agreement to improve intellectual property protection for pharmaceuticals in Israel. We commend the United States Trade Representative (USTR), his staff and the Israeli Government for their hard work in bringing this agreement to fruition.
“PhRMA believes this agreement will be beneficial to patients as it could result in the earlier introduction of new medicines into Israel.
“As a global leader in innovation, it is important that Israel also be a world leader in the protection of intellectual property for medicines. PhRMA looks forward to the expeditious implementation of this agreement.”
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 $50.3 billion in 2008 in discovering and developing new medicines. Industry-wide research and investment reached a record $65.2 billion in 2008.
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