Patents Benefit Latin America - Latin America needs to urgently rethink its traditional view of intellectual property.

Latin America has room for improvement in fostering environments where intellectual property is respected, particularly with regard to patented pharmaceuticals. On many occasions, in fact, countries still reward the copying of patented drugs rather than the development of innovative life-saving medicines. Pharmaceutical innovation, however, is undeniably in the interest of Latin America and its patients, and countries in the region should take concrete steps to create the conditions that foster it, including strong and effective intellectual property protection.

Already a success story is Mexico, which has greatly benefited from the intellectual property protection provided through the North American Free Trade Agreement (NAFTA). Today, Mexico is the leading pharmaceutical market in the region. In part, owing to Mexico’s decision to protect intellectual property, pharmaceutical patents and foreign direct investment in the pharmaceutical sector have grown and are expected to grow further.”*

*From: http://www.latinbusinesschronicle.com
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