Author: itsourfuture

New leaks show Pharmac loser in TPPA negotiation

Press Release – Green Party New leaked documents from the Trans Pacific Partnership Agreement (TPPA) show that New Zealanders could lose access to affordable medication, said the Green Party today.2 July 2015 New leaks show Pharmac loser in TPPA negotiation New leaked documents from the Trans Pacific Partnership Agreement (TPPA) show that New Zealanders could lose access to affordable medication, said the Green Party today. Draft copies of the text dated May 11, obtained by Politico, show that the US had aggressively and successfully advocated on behalf of big pharmaceutical companies to ensure that generic medication will face tough challenges in overseas markets. “The leaked text indicates that big pharma are winning the lobbying war in the TPPA negotiations and the New Zealand public will lose out as a result,” said Green Party Co-leader James Shaw. “Pharmac could really suffer if name-brand pharmaceutical companies can challenge generic medication – it will mean less competition in the market and more expensive medication for ordinary New Zealanders. “John Key keeps reassuring us that Pharmac will not be affected by the TPPA but all the leaked texts to date show that New Zealanders will lose out. “It is looking increasingly like Pharmac will not be scrapped but the TPPA will make it near impossible for it to do its job. “Clearly the US negotiators are doing a much better job advocating for...

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Questions and Answers – July 2

Press Release – Office of the Clerk 1. Dr SHANE RETI (NationalWhangarei) to the Minister of Finance : What reports has he received on the international economy and its effect on New Zealands economy? Questions to Ministers Economy—Reports 1. Dr SHANE RETI (National—Whangarei) to the Minister of Finance : What reports has he received on the international economy and its effect on New Zealand’s economy? Hon STEVEN JOYCE (Associate Minister of Finance) on behalf of the Minister of Finance : Overnight the global dairy auction registered a 5.9 percent fall in the price index, compared with the last auction a fortnight ago. That was the eighth consecutive auction to see a fall, and the average global dairy trade price is now back to similar levels to those seen in late 2014, or around 30 percent lower than the recent peak in early May. Offsetting that somewhat is the fact that the trade-weighted New Zealand dollar has fallen 19 percent in recent months. Lower interest rates are also helping farmers to some extent. This week financial markets have also had to digest the unsettling news in regard to the Greek economy, with the Greek Government being in default on a payment to the IMF, and volatility in the Chinese equity markets. Again, these highlight that we cannot be immune to changes to sentiment and activity across the global economy. Dr...

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Fonterra, treating workers like cattle

Article – Don Franks After several days of rumors, Fonterra today confirmed a series of massive job cuts.Fonterra, treating workers like cattle by Don Franks After several days of rumors, Fonterra today confirmed a series of massive job cuts. Apparently the company held meetings with all finance delivery staff on Wednesday to announce proposed layoffs. Previously, Fonterra refused requests for comment. Fonterra forecast last month that the whole company would undergo a sweeping review in an effort to generate more cash for farmers facing a $4.40 payout this year, after a record $8.40 payout last year. The Ceo said at the time “hundreds” of jobs would go, with support services in the cross-hairs, while production and sales would see a boost. No information on how many new jobs might be created has been released. Instead the firm put out a press release on Thursday saying it had begun “consulting staff on proposals to streamline its business structures”. The release also said the review was aimed at making sure Fonterra is ready to respond to a rapidly changing global environment. “The world is changing and global dairy markets are increasingly volatile. To keep ahead of the game, we need to be more agile, reduce costs and generate value,” it said. Accordingly, the firm was now developing “defined plans that will drive further improvement across the business, allow Fonterra to fund...

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TPP too big to fail, says visiting US trade deal specialist

Article – BusinessDesk July 2 (BusinessDesk) – Too much political capital has been invested in the Trans-Pacific Partnership trade deal for it to fail at the final hurdle, says Peter Petri, a professor of international finance at Brandeis University and co-author of a study on the economic … TPP too big to fail, says visiting US trade deal specialist Petri By Fiona Rotherham July 2 (BusinessDesk) – Too much political capital has been invested in the Trans-Pacific Partnership trade deal for it to fail at the final hurdle, says Peter Petri, a professor of international finance at Brandeis University and co-author of a study on the economic benefits of the TPP. Negotiations are about to accelerate this month after US legislators granted US president Barack Obama’s administration fast-track approval, which means he can take a trade deal to Congress for a so-called “up or down” vote which can only accept or reject the deal, not alter it. Petri said the US president, along with other political leaders, now have a lot at stake to get an agreement after nearly a decade of negotiations. “In that process much political capital has been invested. What I see coming out of this is not something that has been thrown together at the last minute to get something signed but something that has been considered and has had the sharp edges sanded off,”...

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Leaked TPP document shows US pushing rights of drug coys

Article – BusinessDesk July 2 (BusinessDesk) – A draft of part of the Trans-Pacific Partnership trade deal leaked to the Politico website suggests the US is demanding increased protections for pharmaceutical companies, restricting access to the lower-cost generic versions … Leaked TPP document from May shows US pushing rights of drug companies vs. generics By Jonathan Underhill July 2 (BusinessDesk) – A draft of part of the Trans-Pacific Partnership trade deal leaked to the Politico website suggests the US is demanding increased protections for pharmaceutical companies, restricting access to the lower-cost generic versions of drugs that agencies such as New Zealand’s Pharmac buy. The draft copy of the intellectual property chapter of the trade agreement as it stood on May 11, before the Guam negotiating round, includes what is known as ‘patent-linkage’ provisions which would prevent regulators in TPP countries approving generic versions of drugs whenever there were unresolved patent issues, the Washington-based Politico website reported. The draft would make linkage mandatory, as it is in the US, allowing drug companies to fend off generics by claiming patent infringements, the website reported. It cited Heather Bresch, chief executive of generic drug maker Mylan, as saying mandatory patent linkage would amount to “a recipe for indefinite evergreening of pharmaceutical monopolies.” The issue of generic drugs is sensitive in New Zealand because drug-buying agency Pharmac takes advantage of the availability of...

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