COMPLEMENTARY Medicines Australia (CMA) has recommended a formula for successful innovation in a response to a review by the Department of Industry, Innovation and Science of intellectual property laws in Australia.
CMA ceo Carl Gibson noted that in the complementary medicines sector, ingredients such as herbals and botanicals did not get the strong intellectual protections provided to pharmaceuticals.
"For our industry, as much creativity is needed in designing fair and effective IP protection as is needed to develop new, innovative products...this could be achieved by protecting the recipes, the formulation of complementary medicine products," Gibson said.
He said such protection would encourage businesses across the sector to invest in more research, whereas currently innovative formulations were at the mercy of being copied by competitors.
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