Parallel Importation. The Parties shall, upon provision by DKSH of sufficient documents to confirm sales by Other Sellers within the Territory, immediately enter into good negotiation to remedy the situation.
Parallel Importation. 10.6.1. POZEN (i) shall not sell (and, to the extent permitted by Applicable Law, shall ensure that its Affiliates do not sell, and shall use Commercially Reasonable Efforts to ensure that its licensees and distributors do not sell) any Licensed Product to a Third Party in a country outside of the Territory if POZEN (or such Affiliate, licensee or distributor) has reason to believe that such Third Party is likely to export such Licensed Product to the Territory for resale, and (ii) shall not export or have exported (and, to the extent permitted by Applicable Law, shall ensure that its Affiliates do not export or have exported, and shall use Commercially Reasonable Efforts to ensure that its licensees and distributors do not export or have exported) any Licensed Product from any country outside of the Territory into the Territory for purposes of distribution in or to the Territory, in each case without the written consent of Licensee. THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
Parallel Importation. Both generic and brand name drug companies charge lower prices for a drug in one country than in an- other, after taking into account a range of market factors. This means that a country with limited resources can sometimes afford more of a patented or generic drug by purchasing it abroad at a lower price and importing it, rather than buying it directly in its domestic market at the higher price. Parallel importa- tion is regarded as an important flexibility under TRIPS for sustained access to affordable medicines. It is the import and resale of a patented product from another country where it was put on the market by the owner in a legitimate manner, where the import and resale occurs without the consent of the pat- ent holder. Article 6 of the TRIPS Agreement clearly states that nothing in the Agreement shall be used to address the issue of exhaustion of intellectual property rights19. More specifically, Article 8.1 allows members to “adopt measures necessary to protect public health and nutrition”. Where allowed, parallel imports cover legitimate products. In principle, parallel imports may prevent market segmentation and differential pricing unless active policy measures are taken to prevent leakages across markets. The other danger with parallel imports is that they can potentially lead to intra-LDC trade, where drugs shift from one country where the drugs are in demand to another depending on price differentials. If there are restrictions on overall availability of drugs in LDCs, then intra-LDC trade can lead to a low equilibrium outcome. While parallel importation is provided for in a number of developing country laws, parallel importation has not been widely used by developing countries as a solution to reducing ARV prices. An option which remains to be fully utilized is the parallel importation of generic drugs that have been produced under compulsory license. Few coun- tries have made use of the opportunity to import generics that have been produced under compulsory license. This flexibility has not been assisted by the geographical restriction of exportation that has ac- companied the majority of compulsory licenses that have been issued to date. 19 The underlying principle behind parallel imports is that since the owner has been rewarded by the first sale, he or she has no right to control the use or resale of the product and therefore his or her right has been exhausted. 4 : I NTERPRETING THE OPTIONS AVAILABLE UNDER T R I P S A SOUTH AFRICAN C...
Parallel Importation. Section 9.11 of the Parent Agreement shall terminate in its entirety as of the Amendment Effective Date.
Parallel Importation. The Parties recognize that customers or other Third Parties may import Drug Products purchased in the Territory for use outside the Territory and vice versa. If such activity materially distorts the aggregate relative benefit to the Parties that otherwise would prevail if those Drug Products were sold by VERTEX directly outside the Territory or by MITSUBISHI directly in the Territory, then the Parties shall establish an equitable mechanism to offset the economic effect of any such sales, to the extent it is possible and legally permissible to do so. MITSUBISHI shall use commercially reasonable efforts to take all legally permissible steps necessary to prevent any Drug Product manufactured for sale in the Territory from being distributed or sold outside the Territory. MITSUBISHI shall notify VERTEX if it becomes aware of the exportation of Drug Product from its Territory. VERTEX shall use commercially reasonable efforts to take all legally permissible steps necessary to prevent any Drug Product manufactured for sale in the VERTEX Territory from being distributed or sold in the Territory. VERTEX shall notify MITSUBISHI if it becomes aware of the exportation of Drug Product from VERTEX Territory.
Parallel Importation. In the event the Sellers shall license to any Person outside of the Territory any rights with respect to the Delsym Product, the Sellers shall use commercially reasonable efforts to include in the terms and conditions of such license a prohibition on parallel importation of the Delsym Product by such licensee into the Territory. In the event that the Sellers shall have knowledge that any such licensee shall be engaging in the parallel importation of the Delsym Product into the Territory then, at the request and the expense of Buyer, the Sellers shall enforce the applicable provisions of such license against any licensee engaging such parallel importation.
Parallel Importation. In relation to the issue of parallel import of pharmaceuticals, Article 6 of the TRIPs Agreement provides that for the purpose of dispute settlement under this Agreement nothing in this Agreement shall be used to address the issue of exhaustion of intellectual property rights. Nevertheless, the rights conferred by a patent (Article 28 of the TRIPs Agreement) may not be contravened; these rights include the right to prevent importation of patented products. This means under trips Agreement parallel importation is allowed. 134 Globalization and access to drugs implication of the wto/TRIPs Agreement. World health organization 1999.op.cit.P35
Parallel Importation. The Intellectual Property Chapter does not impose any new restrictions on Australia’s ability to allow for parallel imports. The TPP-11 leaves the issue of ‘international exhaustion’ of intellectual property rights for each TPP-11 country to determine for itself. Fact sheet last update: 23.02.2018 2
