The COVID-19 pandemic has demonstrated the important roles both innovation and international trade play in addressing public health concerns. Global collaboration and trade cooperation is essential to delivering breakthrough medicines. Trade barriers, such as high tariffs, make addressing public health concerns more costly for patients. Tariffs are essentially taxes that are levied when a product enters the country.
Investing in health care has immense benefits to local patients and the economy. In fact, for every $1 invested in improving health systems in developing economies, countries can expect an economic return of $2-$4, resulting in a healthier population and higher productivity.
This week, the 75th World Health Assembly will convene key leaders from 194 member states to discuss some of the most pressing global public health challenges. As the World Health Organization’s decision-making body, the WHA will determine WHO policies, programs and budgets.
Intellectual property has enabled unprecedented collaborations to innovate and speed up progress on hundreds of potential COVID-19 treatments, diagnostics and vaccines for the world. As we celebrate World Innovation Day on April 21 and World IP Day on April 26, we are reminded how valuable strong intellectual property laws are to addressing global challenges through innovation.
Explore the Countries
Indonesia has achieved significant health milestones, but rising rates of NCDs bring new challenges.
Malaysia can attract new foreign investment and improve health outcomes by better protecting innovation and reducing bureaucratic delays.
Increasing public-private partnerships in the Philippines will bring health care innovation to a rapidly growing population
Health care is poised to become a major economic driver in Thailand in the coming years.
The success of Singapore’s health care system can be attributed to strong policies and an integrated health system.