Australia Bids To Bolster Generic Drug Industry

Law360, New York (September 14, 2006, 12:00 AM EDT) -- In a bid to prevent drug manufacturers from taking their business overseas, Australia’s parliament gave the green light on Thursday to changes in the country’s intellectual property laws aimed at giving the generic pharmaceutical industry a more competitive edge in the international market.

The Intellectual Property Laws Amendment Bill, meant to give pharmaceutical companies greater incentives to develop low-cost generic medicines, will make it easier for companies to engage in “springboarding,” or using the subject matter of an existing patent to help obtain approval for new...
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