Intellectual property drives global economic development
WASHINGTON, DC – (June 20, 2012) – The Biotechnology Industry Organization(BIO) unveiled a report on the role of intellectual property rights in encouraging upstream research and development as well as downstream commercialization of biotechnology at the 2012 BIO International Convention.
“This report is further proof of the positive impact of intellectual property rights in both established and emerging economies, and will be a useful tool as we work with the many countries seeking to grow the biotechnology industry,” stated Joseph Damond, BIO Senior Vice President of International Affairs. “We felt it was important to provide empirical evidence and case studies for a more informed discussion on the role of intellectual property in global economic development and in commercializing innovative products for patients and other consumers.”
The report outlines how intellectual property rights and technology transfer mechanisms encourage collaboration and lead to the research and development of new biotechnologies, particularly in emerging and developing economies.
The report, titled “Taking Stock: How Global Biotechnology Benefits from Intellectual Property Rights,” found that:
Intellectual property rights, especially patents, are actively facilitating and contributing to upstream and downstream biotechnology activities in both developed and developing countries.
Not only mature economies but also major emerging economies are making growing use of the patent system to facilitate biotechnology research and commercialization.
Accordingly, biotechnology alliances for research and technology transfer have increased markedly since the early 1990s.
Case study analysis suggests that strengthening intellectual property rights and introducing technology transfer frameworks based on intellectual property rights in combination with other reforms can have a positive and sustained impact on innovation, economic development and growth, biopharmaceutical research and development, and access to biotech products in emerging economies.
“There is a growing body of evidence suggesting a positive link between economic development and growth, technology transfer, increased rates of innovation and the strengthening of intellectual property rights. This is particularly promising in certain knowledge-intensive sectors, such as biopharmaceuticals,” said Meir Pugatch, Managing Director and Founder of the Pugatch Consilium.
The report was authored by Meir Perez Pugatch, David Torstensson and Rachel Chu of the Pugatch Consilium and is available at http://www.bio.org/sites/default/files/Pugatch%20Consilium%20-%20Taking%20Stock%20Final%20Report%20%282%29.pdf.
BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.
Upcoming BIO Events
2012 BIO International Convention
June 18-21, 2012
BIO Business Forum
June 18 – 21, 2012
BIO India International Conference
September 12 – 13, 2012
Livestock Biotech Summit
September 19 – 21, 2012
Kansas City, MO
BIO Investor Forum
October 9-10, 2012
San Francisco, CA
Pacific Rim Summit on Industrial Biotechnology and Bioenergy
October 10 – 12, 2012
The BIO Convention in China
October 24 – 25, 2012