Israel and the US have reached an agreement on pharmaceutical intellectual property
Israel and the US have reached an agreement on pharmaceutical intellectual property. The agreement was reached after three years of negotiations. In a statement issued last week that the U.S. plans to move Israel off its Special 301 list of countries that deny adequate and effective protection of intellectual property rights or deny fair and equitable market access to U.S. persons who rely on IPR protection.
This announcement followed the conclusion of a bilateral understanding that resolves several longstanding issues with Israel’s IPR regime for pharmaceutical products.
A USTR press release states that this understanding covers improving data protection, the term of patents on pharmaceuticals, and the publication of patent applications in Israel.
In recognition of Israel’s agreement to move forward on legislation to amend its IPR laws, the press release states, and once the appropriate legislation is submitted to Israel’s legislature, USTR will move Israel from the Special 301 PriorityWatch List to the Watch List. As soon as the legislation is fully implemented, Israel will be moved off the Special 301 list altogether.