CLSA Supports Renewal of U.S. Trade Promotion Authority (TPA) Legislation
June 10, 2015
Strong intellectual property protections and coverage and payment policies at home and abroad are critical to incentivizing investment in the life sciences industry, and renewal of Trade Promotion Authority (TPA) – and the supportive IP principals it contains – is instrumental in protecting and promoting the California and U.S.-based life sciences sector in an increasingly competitive global economy.
TPA provides for a legislative procedure by which Congress defines the United States’ objectives and priorities, and requires a vote on any trade agreements. This is important legislation because, in its current form, it would allow the Administration to better protect IP rights and fair market access when negotiating trade deals. The House will soon consider legislation to renew the United States’ Trade Promotion Authority (TPA).
The TPA proposal includes provisions addressing a number of related issues of which CLSA is strongly supportive. TPA’s principal objective of ensuring U.S. trade agreements support robust IP rights that reflect a standard of protection similar to that found in the United States law is critical for ensuring companies large and small are able to engage in the high‚Äêrisk, high‚Äêcost R&D that makes the discovery, development and commercialization of life‚Äêsaving medicines possible. TPA also underscores the objectives of protecting against unfair, discriminatory and non‚Äêtransparent coverage and payment schemes, such as price controls and reference pricing, which are impediments to ensuring full market access for American medical technologies.
CLSA recently sent a legislation alert to the California congressional delegation in strong support of the TPA renewal. A copy of our legislative alert is available here. House Majority Leader Kevin McCarthy will soon decide whether to bring up the vote at the end of this week, or wait until next.