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The importance of protecting IP in pharmaceutical industry

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SPONSORED | In SA, procurement regulations need to be formulated to support local production and incentivise it, as investment can be lost with restrictive conditions, said a speaker during a recent BD Dialogue. ArenaEventsZA

At a recent Business Day Dialogue, in partnership with Ipasa, industry experts said IP protection incentivises researchers to share information, which facilitates the development of new drugsInventors, designers, developers and authors can protect their ideas to prevent others from wrongly profiting from their inventions.

SA was the first country in the world to grant a patent to an artificial intelligence invention, causing global controversy as AI is regarded as a “black box”. Such administrative and technical considerations should be weighed carefully to establish whether the three principles of registering a patent, namely novelty, inventiveness, and utility, have been met or not. In the age of the fourth industrial revolution, robust debates are needed on this type of development.

He called for meaningful engagement between innovators and investors to secure mutually beneficial partnerships.

 

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