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Leaked trade deal terms prompt fears for Pharmaceutical Benefits Scheme
Key Excerpts from Article on Website of The Guardian (One of the UK's leading newspapers)
Posted: June 21st, 2015
http://www.theguardian.com/business/2015/jun/11/pacific-trad...
The leak of new information on the Trans-Pacific Partnership agreement (TPP) shows the mega-trade deal could provide more ways for multinational corporations to influence Australias control of its pharmaceutical regulations. Revealed via Wikileaks, the annexe on transparency and procedural fairness for pharmaceutical products and medical devices uncovered the draft agreements regarding medicines between the 12 TPPA member countries [representing] 40% of the worlds economy. The leaked text, dated December 2014, laid out the draft rules for member countries regarding medicines under national health care programs, in Australias case, the Pharmaceutical Benefits Scheme (PBS). This transparency annexe seeks to erode the processes and decisions of agencies that decide which medicines and medical devices to subsidise the public money and by how much. That will mean fewer medicines are subsidised, or people will pay more as co-payments. However, [trade minister Andrew] Robb said ... that the government would not accept anything that would adversely affect the PBS. Parliamentarians were offered the chance to see the TPP draft by Robb [only] if they agreed to a four year non-disclosure agreement. Senator Peter Whish-Wilson ... who has not seen the draft as he refused to agree to the terms of the agreement, said the latest leak suggested the Australian PBS could be undermined.
Note: The Trans-Pacific Partnership may be a pending disaster. But we do not know for sure, because its contents remain secret. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.
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