Government set to update patent law

The government will this evening be launching a first reading in Parliament for an update in the patent law, Prime Minister Joseph Muscat said.

“In this way, applying for patent rights and safeguarding intellectual property will be made much easier for companies, hence making them more competitive,“ Muscat said.

The PM was speaking at the inauguration of Actavis’ new premises in Bulebel. Actavis is a company that specializes in the manufacture of generic pharmaceuticals.

Also present for the event was Economy Minister Chris Cardona.

“This amendment to the law is long overdue,” he said. “We are proposing that the will be a tribunal in place which will coordinate and ensure that those applying for patents will be doing so for the good of the industry and as a result, will bring competitiveness to the sector.”

“We will also be introducing other principals to safeguard employees in the generic pharmaceutical industry,” he said. "After all, more investment in quality will allow for the industry to grow.”

Addressing Actavis employees, Muscat praised the company for its excellent standards and high quality pharmaceuticals as well as its outstanding customer service. He said that the new state-of-the-art warehouse, which will cost €13 million, was an achievement in its own right, with the construction meeting all occupational, health and safety requirements.

He concluded that government was focused on helping such companies exhaust all available opportunities in the market whilst also helping them to face existing challenges. “We want to make malta a prime location for foreign direct investment,” he said, "and my government will stand by your side.”