What is the Impact of TRIPS on Research and Development?
TRIPS incentivizes research and development (R&D) in the pharmaceutical industry by providing patent protection, which is fundamental for companies investing in the high-cost development of new cancer treatments. However, the agreement also raises concerns about the high costs of drugs, particularly in less affluent countries, which could stifle access to innovative treatments. Balancing robust R&D incentives with affordable access to medicines remains a critical challenge under the TRIPS framework.
