As mentioned by me in my earlier blog that Senator Ted kennedy wanted 13.5 years of IP protection for biological, everyone was waiting for this amendment. Yesterday the US senate Health, Education, Labour and Pensions Committee approved an amendment that will be protecting biotech innovator companies from bio similar competition for 12 years. The voting favoured--the biotech industry with a big win which was struggling to gain a long period of marketing protection.
The 12 years of data exclusivity will establish reasonable period and will ensure continuation of biomedical innovation and will provide the benefits of competition," said BIO President Jim Greenwood.
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