Clare Moody

MEP for the South West and Gibraltar

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TTIP Update - Transparency & Drug Prices

EU-US FlagThere has been an agreement between the European Parliament and Commission that all MEPs will have access to all categories of confidential documents relating to the Transatlantic Trade and Investment Partnership (TTIP), the proposed EU-US trade deal.

With deals this complex, transparency is always going to be an issue; I am glad that the Commission has listened to Labour MEPs and the public and allowed access. 

Earlier in the year there was the example of a US pharmaceutical company increasing the price of an AIDS medicine from $13.5 a pill to $750. Thanks to the NHS this cannot happen in the UK however this is what can happen if the prices of drugs are left to the market forces.

Many people are worried that this will be one of the consequences of the TTIP would result in a similar situation here, making people in Europe vulnerable to profiteers?

Labour MEPs asked the European Commission in an official parliamentary question and just got an answer which is pretty unambiguous.

The US has enquired about including provisions in TTIP on the pricing and reimbursement of medicines, but the Commission does not think it's appropriate. More importantly, the Commission categorically rules out including the clause that the US has used for this purpose in other trade deals.

We will keep a very close eye on this, and make sure that the Commission delivers on its promise. 

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