Andrew Robb: Australia and US close to drug patent compromise for TPP deal

Trade minister says deal is close without revealing whether Australia is standing firm on five-year cap on biologics drug patents against US push for eight years

The trade minister, Andrew Robb, has said Australia and the United States are within striking distance of a deal on the monopoly period for biologics medicines which could seal the Trans Pacific Partnership (TPP).

Robb was speaking in Atlanta at the current round of negotiations for the TPP, which if signed would create a preferential trade zone between 12 countries covering 40% of the world's economy.

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