Thai authorities are failing to protect pharmaceutical patents and creating an environment less attractive to investors. That is one of the conclusions of a new report published by global research and consulting firm GlobalData.
Thai authorities are failing to protect pharmaceutical patents and creating an environment less attractive to investors. That is one of the conclusions of a new report published by global research and consulting firm GlobalData.
‘Healthcare, Regulatory and Reimbursement Landscape – Thailand’ warns that lax enforcement of patent regulations is "alienating American intellectual property laws". It concludes that the Thai government is "using generic pharmaceuticals to maintain low healthcare costs", adding that, "in April 2012, Thailand was placed on the ‘Special 301’ priority watch list by the Office of the United States Trade Representative (USTR), which identifies trade barriers to US companies and products caused by foreign intellectual property laws, regarding copyright, trademarks and patents".
Thailand’s pharmaceutical market was estimated at $1.9bn in 2006 and is expected to reach approximately $8.9bn by 2020 with a compound annual growth rate (CAGR) of 11.7%.