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Biotechnology group welcomes Korea trade pact

The Biotechnology Industry Organization (BIO) is celebrating President Obama’s transmission of the Korea-US Free Trade Agreement (KORUS FTA) to Congress on 3 October.

KORUS FTA contains “strong intellectual property provisions” and sections which level the playing field in South Korea for US companies developing disease treatments and cures and other innovative biotechnology products, BIO’s senior vice-president for international affairs, Joseph Damond, said in a 5 October statement.

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