Law and Humanities
Quarterly Reviews
ISSN 2827-9735
Published: 18 December 2023
Access to Medicine in Post-LDC Era: Challenges in Intellectual Property Law Framework of Bangladesh
Shohane Zaman Prova
Bangladesh University of Professionals
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10.31014/aior.1996.02.04.92
Pages: 141-152
Keywords: Intellectual Property, Trips Agreement, LDC Graduation, Patent, Medicines
Abstract
After witnessing the effects of a global pandemic, the need for affordable medicines is higher than ever. Many developing countries are suffering to provide accessible medicine for their citizens. Although Bangladesh, as one of the most successful least developed countries (LDC), has gained remarkable success in the pharmaceutical industry, the impending LDC graduation might have some adverse effects. This study intended to analyze the implications Bangladesh might face and how to work around the new situation. Although most medicines that treat common diseases are off-patent, LDC graduation can increase prices of patented drugs like vaccines as it will limit the direct policy support given to the exporters. As LDC graduation will force Bangladesh to comply with the TRIPS agreement by 2026 rather than 2033, an extension is badly needed. Bangladesh will also have to amend its intellectual property laws to fully comply with the agreement, which puts an added burden. Finally, this study shows that although measures like parallel importation and compulsory licensing may help in easy access to medicine, the best thing for Bangladesh will be to apply for an extension to graduate from the LDC category.
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