Thursday, July 2, 2009

Chavez may end patents on medicine in Venezuela

President Hugo Chavez has vowed to shake up the rules governing intellectual property rights on medicines and other products in Venezuela, the socialist's latest move against the private sector.

"A song is intellectual property, but an invention or a scientific discovery should be knowledge for the world, especially medicine," Chavez said late on Saturday.

"That a laboratory does not allow us to make a medicine because they have the patent, no, no, no," Chavez said.

Chavez, who has nationalized many Venezuela industries and is critical of the private sector, ordered his trade minister to analyze the patent rules in the OPEC nation. Reuters>>