TPP trade deadlock: Pacific countries near deal after biotech breakthrough
by Reuters in Atlanta from on (#PEDT)
Despite a compromise on the length of drug monopolies, a last-minute hitch over New Zealand's demands for access to dairy markets delayed an agreement
A dozen Pacific countries have closed in on a sweeping free trade pact after a breakthrough over how long a monopoly pharmaceutical companies should be given on new biotech drugs.
The issue has pitted the US, which argued for longer protections, against Australia and five other delegations which said such measures would strain national healthcare budgets and keep life-saving medicines from patients who cannot afford them.
Related: From cars to cough medicine: why the Trans-Pacific Partnership matters to you
Related: Andrew Robb: Australia and US close to drug patent compromise for TPP deal
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