Brazil agrochemical prices can lower with patents modification

The price of 247 agrochemicals and medicines can lower soon because the patent validity period will be corrected up to six years. The request was made by the General Attorney of the Brazilian National Institute of Intellectual Property, which filed 34 actions in the Federal Court of Rio de Janeiro.
 
"The correction of this term will allow market entry of other agrochemicals and generics, in many cases. The prices of both agricultural products and medicines can be corrected, benefiting the entire population. If there is win cause at INPI, agrochemicals may join the food chain,"explains Dr. Maria Isabel Montanes, Southern Cone Business Consulting lawyer.
 
"The period until the release of the product can take up to ten years, the period of exclusive protection for getting investment return on the market. After the loss of patent validity, the drug and agrochemical products are subject to competition from other products in the category, such as similar and generics, which have the same active ingredients found in the original ones,"she explains, who is also a member of ASPI (PaulistaAssociation Paulista of Industrial Property Agents) and ABAPI (Brazilian Association of Intellectual Property).