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Illustration: Aïda Amer/Axios

President Trump's new trade agreement with China includes patent protections that could be a big boon to drug companies.

Why it matters: China's enormous population is a lucrative market for pharma, and the country is also actively trying to build up its own domestic drug industry. But it's not guaranteed that China will actually abide by the agreement.

Details: The trade agreement would set up patent protections in China that are similar to U.S. law.

  • It would help protect branded drugs from generic competition while they're still under patent protection.
  • Drugmakers could also receive a patent extension if there's a delay during the approval process.

The big picture: This is good news for Big Pharma, especially after biologic protections were recently removed from the trade agreement with Mexico and Canada that's currently making its way through Congress.

  • But the agreement doesn't include a measure giving drugs a certain patent exclusivity period, something the industry has been pushing for in trade deals in the recent past, specifically for biologics.

Between the lines: If China complies with the agreement, it'd be great for American drug companies, which could enter the Chinese market with the expectation that their patents would be respected. But it could also be good for China's budding drug industry.

  • "This is a way for them to be able to create a domestic industry but also maintain affordability and access, which China is going to do anyway because it’s a controlled economy," said Chris Campbell, chief strategist at Duff & Phelps.

The bottom line, from Axios China reporter Bethany Allen-Ebrahimian:

  • It's up to China to implement the legal protections it has agreed to in the deal -- but significantly, the agreement does include six pages outlining an evaluation and enforcement mechanism. That's a step in the right direction.
  • But Chinese government officials have previously falsified data, and China has reneged on agreements in the past.

Go deeper: China offers drug companies market access in exchange for lower prices

Go deeper

13 mins ago - Politics & Policy

Charter schools boomed during the pandemic

Expand chart
Data: National Alliance for Public Charter Schools; Map: Sara Wise/Axios

Charter schools picked off hundreds of thousands of public school students across the U.S. during the pandemic, according to a new analysis from the National Alliance for Public Charter Schools.

Why it matters: The pandemic has weakened America's public education system, as Zoom classes, teacher fatigue and student disengagement take their toll. And that hobbled system is shedding students to charter schools, private schools and homeschooling.

Updated 2 hours ago - Politics & Policy

Trump sues New York Times and his niece over tax report

Former President Trump hosting a boxing match in Hollywood, Florida on Sept. 11. Photo: Chandan Khanna/AFP via Getty Images

Former President Trump filed a $100 million lawsuit against the New York Times and his niece Mary Trump on Tuesday over the news outlet's 2018 reporting on his tax records, the Daily Beast first reported.

Details: The suit, filed in New York's Dutchess County, alleges NYT journalists "engaged in an insidious plot to obtain confidential and highly-sensitive records" and that they "convinced" Mary Trump to "smuggle records out of her attorney's office and turn them over to The Times."

Brazil's health minister tests positive for COVID during UN summit in N.Y.

President of Brazil Jair Bolsonaro (L) and Health Minister Marcelo Queiroga in Brasilia, Brazil, in May. Photo: Andressa Anholete/Getty Images

Brazil's Health Minister Marcelo Queirog has tested positive for COVID-19 while in New York City for the United Nations General Assembly (UNGA), he confirmed Tuesday night.

Why it matters: Hours earlier, Queirog had accompanied Brazilian President Jair Bolsonaro to the UNGA. The Biden administration expressed concern last week that the gathering of world leaders could become a coronavirus "superspreader event."

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