Big Pharma and Investment Arbitration

Abstract Investment Arbitration in the pharmaceutical sector raises some specificities. Regarding jurisdiction of arbitral tribunals, it is questionable whether the registration of a patent abroad or a patent license granted to a foreign partner constitutes an investment. Similarly, as health products are not ordinary goods, arguments according to which marketing authorizations or monopolies granted constitute an investment are real issues. On the merits, the invalidation of a patent, the refusal or withdrawal of a marketing authorization or the decision of a state authority to end a monopoly can be analyzed as a violation of some of the commitments made by States in the treaties they conclude. The aim of this study is to address these questions thanks to the awards already rendered, making it a useful tool for countries -like Vietnam- that wish to develop their pharmaceutical sector by attracting foreign investors.