Sample Essay

The discovery and development of new vaccines and drugs then also then becomes their primary responsibility towards the society. According to some findings, currently the industry has more than about 100 vaccines and drugs being developed for HIV/AIDS along with these huge sums are being invested to advance R&D in developing drug for tuberculosis, malaria and other diseases widespread in developing countries. (Spinello, 2007)

Pharmaceutical companies have a very strong influence on world trade because of the huge sums of revenues they generate and their high contributions to the GDP.

It is highly essential to protect and enforce intellectual property rights so that more and more technological innovation is promoted and then the technology transferred and disseminated in such a way that the producers well as the user of this knowledge benefits while at the same time economic and social welfare is maintained. (Todd Green, 2011)

When specifically talking of developing countries, they have this complaint regarding intellectual property that it protects the pharmaceutical patent owners much more than the poor population of their countries. Some of the critics of these intellectual property rights argue that these rights not be treated as inherent rights as they are not.

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