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International Journal of Academic Research in Accounting, Finance and Management Sciences

Open Access Journal

ISSN: 2225-8329

Waiving Pharmaceutical Intellectual Property Rights: Harmonizing Patent and Competition Policy

Wan Liza Md Amin, Mawaddah Munirah Zulfakar

http://dx.doi.org/10.6007/IJARAFMS/v13-i2/18177

Open access

Unequal access to vaccines between high-income and lower-income countries has highlighted the role of Intellectual Property rights as leverage or bargaining tool by pharmaceutical companies in procurement and distribution. India and South Africa 2020 initiated a proposal for Intellectual Property (IP) temporary waivers for Covid-19 patent vaccines to suspend the proprietary rights of the patent owner. This article aims to answer whether total or temporary dismantling of IP rights is the best response to a health emergency while ensuring the industry remains competitive. This article employs qualitative method works of literature through thematic analysis of secondary data. Academic literature on the justification of IP waivers and competition policies, oligopolistic pharmaceutical market structure, provisions of Malaysia Patent Act 1983, TRIPS Agreement, and Competition Policies. Our analysis proposes stakheolders' mutual benefits framework through harmonisation of IP rights and competition policy toward a holistic approach to ensure mutual benefit for all stakeholders. The novelty findings outcome would accelerate the pharmaceutical market development in Level 1 of the market structure, fair competition, efficient vaccine production, and allocation for future pandemics.

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In-Text Citation: (Amin & Zulfakar, 2023)
To Cite this Article: Amin, W. L. M., & Zulfakar, M. M. (2023). Waiving Pharmaceutical Intellectual Property Rights: Harmonizing Patent and Competition Policy. International Journal of Academic Research in Accounting Finance and Management Sciences, 13(2), 1045–1060.