Pharmaceutical tariffs have been falling in recent years, but they still reach 20% in some countries, according to new research from Geneva Network. The analysis shows in some countries, falling average tariff rates are cancelled out by large increases in the categories of medicines subject to tariffs. In the face of the Covid pandemic, the world needs legally-binding abolition of medicine tariffs now.
Trade plays key roles in fostering innovation, both as a conduit for the diffusion of global technology and knowhow that facilitates innovation in developing nations and by giving innovative companies access to large global markets through which they can recoup their upfront investments in R&D and generate revenues to finance future generations of innovation. GTIPA-member reports here examine trade-innovation linkages.
