Required Resources
Read/review the following resources for this activity:
- Textbook: Chapter 3
- Lesson.
- Minimum of 2 scholarly sources
Instructions
The various trade organizations and agreements discussed in the textbook and lessons affect a variety of industries, including healthcare. Choose an aspect of healthcare you would like to research. Some example might include medical devices, information technology, pharmaceuticals, public health, etc. Find at least two articles in the Chamberlain library that discuss your research topic and the effect of at least one global trade organization/agreement.
Write a 1.5 – 2 page essay explaining how the global marketplace affects your chosen topic. Your essay should include a summary of the trade agreement or organization chosen as well as the affects (both positive and negative) that agreement/organization has had on your given topic.
Writing Requirements (APA format)
- Length: 1.5 – 2 pages (not including title page or references page)
- 1-inch margins
- Double spaced
- 12-point Times New Roman font
- Title page
- References page (minimum of 2 scholarly sources)
Grading
This activity will be graded based on the Week 2 Assignment rubric.
Solution:
Trade agreements have far-reaching impacts in all industrial sectors, including healthcare. However, their implications in the healthcare industry are not so simple. International trade of healthcare services and products is not just driven by health. On the contrary, it is also influenced by the trading terms. One of the most notable trade terms is that of intellectual property (Sariola, 2021). For instance, the World Trade Organization has clauses that protect intellectual property in healthcare. Patented and copyrighted healthcare products are protected in the international markets. The World Trade Organization protects patented and copyrighted healthcare products for up to 20 years (Sariola, 2021). As a result, this limits supply of these products. Current patent protections of the WTO are limiting mass production and supply of Covid-19 vaccines. Over the past few months, there have been proposals and discussions seeking to vacate these protections to fasten the vaccination rate across the globe.
A recent publication shows that existing intellectual property rights limit global access in three ways. First, these regulations have limited the decision-making rights to the pharmaceutical industry (Sariola, 2021). As a result, the industry determines the price at which the vaccines are sold as well as to whom. The WTO’s Trade Related Intellectual Property Rights Agreement protects the companies that own intellectual property rights from competition by generic manufacturers. Secondly, it limits the distribution of vaccines to nations with a bilateral….Please click the icon below to purchase full answer at only $10