Research Paper on:
Pharmaceutical Agreement - Contract Issues - Case Study

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license their technology, thereby providing Gentura with the know-how for producing certain drugs, one of which is vioblax. An epidemic breaks out in Costa Rica and Gentura promises the government  they will supply sufficient quantities of vioblax and they will give it to the people at sub-prices. Changing the price violates the contract with Cad Mex. Cad Mex has  agreed to license the technology to Gentura, they have not agreed to turn over control over pricing and other aspects to Gentura. Cad Mex holds the patent on this drug  and that patent will last for about 20 years. The Universities Allied for Essential Medicines (2005) wrote: "When any new invention is patented, it guarantees the holder of the patent  20 years during which no one else is allowed to produce, sell, import, or do research on that product without their permission." Thats the law. The two companies have  a signed contract that specifies what each company will do relative to this partnership. A contract is basically a promise from each party to do specific things (Legal Information Institute,  2005). Contracts are supposed to be enforced in Costa Rica just as they are in the United States (Legal Information Institute, 2005). The government of Costa Rica, however, is facing  a health crisis and this takes priority (Legal Information Institute, 2005). Nonetheless, if Gentura offers the drug at a price below that which is specified in their contract with Cad  Mex, they will have violated the contract. Or, put another way, they will be in breach of the contract and "the law provides remedies if a promise is breached" (Legal  Information Institute, 2005). Contracts typically include numerous conditions, limitation, privileges, conditions and/or duties and responsibilities as they pertain to each party. Based on the information, we must conclude