Confusion in the TPPA for Pharmaceuticals?



If the Trans-Pacific Partnership (TPPA) gets signed as it is, consumer groups are worried that the increased price of medicines will force Malaysians to tighten their wallets again.

The Federation of Malaysian Consumers Associations secretary-general Datuk Paul Selvaraj said they were aware of the repercussions of the agreement if no amendments were made.

“The TPPA is currently being looked at, and our biggest concern is its impact on drugs. We feel that pharmaceutical companies are making medicines more expensive, and we have expres­sed these concerns before."

“We have to take another look at the agreement and find a way to get an outcome without negative impact to the consumers,” he said.
S.M. Mohamed Idris, president of the Consumers Association of Penang, explained that at its current state, the TPPA would make it more difficult for Malaysians to get access to generic drugs.

“The TPPA will increase the term of a patent. At present, the term is 20 years from the time a patent application is filed. This could be amended, with the TPPA, to 20 years after the patent is granted or after marketing approval is given by the Health Ministry. The term of patent will be much longer, thereby depriving the Malaysian consumer of cheaper generics for a long period of time,” he said.

Muslim Consumers Association of Malaysia president Datuk Nadzim Johan agreed with his counterparts that the TPPA required changes.

“Most, if not all consumer groups, are against it. There are just too many parts in the agreement that are not to the consumers’ advantage.”

Malaysian Pharmaceutical Society president Datuk Nancy Ho, when asked if consumers might put the blame of a price increase on pharmaceutical companies, said there were other factors contributing to pricing when the TPPA was signed.

But she agreed that more time was needed before the Govern­ment signed the agreement.

“People are still in an adjustment period after the implementation of the GST (Goods and Services Tax), so this may not be the best time (for the TPPA),” she said

/theSTAR 27-07-2015


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Malaysian Ringgit closes lower against USD



The Ringgit closed lower against the US dollar today, in line with most emerging Asian currencies, on cautious sentiment ahead of the US Federal Reserve's policy meeting.


At 5pm, the ringgit was quoted at 3.8140/8160 against the US dollar, touching its 17-year low, compared with 3.8080/8100 recorded last Friday. At 3.8140 it is at its weakest since September 1998. 

The Malaysian currency was pegged at 3.8000 between 1998 and 2005.
The central bank was spotted in the market trying to limit further losses in the worst-performing Asian currency so far this year. 
Malaysia's international reserves fell to $100.5 billion as of July 15 from $105.5 billion as of June 30, central bank data showed on July 23. 
 
A dealer said investors would closely monitor the outcome of the two-day meeting, which would commence later today.

"Furthermore, the weak commodity prices put additional pressure on the ringgit," he said.
The ringgit was also traded lower against other major currencies.

It fell against the Singapore dollar to 2.7866/7889 from 2.7763/7798 last week and declined against the yen to 3.0880/0909 from 3.0715/0733 last Friday.

The local unit depreciated against the pound sterling to 5.9201/9247 from 5.8978/8017 previously and weakened against the euro to 4.2248/2274 from 4.1652/1678 last week.

/Bernama/theSTAR 27-07-2015

Disclaimer: Views or opinions expressed are solely those of the Author and should be used with discretion. The Author shall not be held liable for any acts or omissions arising from the use of the information. The user will be personally liable for any damages or other liability arising hereof.

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