[Ip-health] USTR Fact Sheet on Korea FTA

[Mike Palmedo]

http://www.wcl.american.edu/pijip/documents/ustrfactsheet.pdf?rd=3D1

Office of the United States Trade Representative
www.ustr.gov
April 2007

Free Trade with Korea Summary of the KORUS FTA

The United States concluded an historic agreement with the Republic of
Korea on April 1, 2007. This comprehensive trade agreement will
eliminate tariffs and other barriers to trade in goods and services,
promote economic growth, and strengthen economic ties between the United
States and Korea.

[snip]

Pharmaceuticals and Medical Devices: A Shared Commitment On Access to
Innovative Medicines

=95 Agreement on common principles on facilitating high-quality health
care and continued improvements in public health for nationals.

=95 Commitment to increase access to innovative products, including
through insurance the fair, reasonable, and non-discriminatory treatment
for pharmaceutical products and medical devices.

=95 Commitments on transparency in the pricing and reimbursement process
for pharmaceutical products and medical devices.

=95 Agreement to adopt and maintain measures to prohibit improper
inducements by pharmaceutical products and medical device manufacturers
and to enforce such measures.

=95 Agreement to establish a Medicines and Medical Devices Working Group
that will provide for continued dialogue between the United States and
Korea on emerging health care policy issues.

=95 Agreement by Korea to establish and maintain an independent body that
reviews recommendations or determinations regarding the pricing and
reimbursement of pharmaceutical products and medical devices.

[snip]

Patents & Regulated products

=95 Provides for the extension of patent terms to compensate for delays in
granting the original patent.

=95 Permits inventors to publish their inventions in journals and still
have 12-months before their own publication will prevent patenting that
invention.

=95 Protects against arbitrary revocation of patents and assures
protection for newly developed plant varieties and animals.

=95 Clarifies that test data submitted to a government for the purpose of
product approval will be protected against unfair commercial use for a
period of five years for pharmaceuticals and 10 years for agricultural
chemicals.

=95 Requires measures to prevent the marketing of pharmaceutical products
that infringe patents, and to provide notice when the validity of a
pharmaceutical patent is to be challenged.

[snip]