The Enforcement of the Nagoya Protocol in the Food, Drugs and Cosmetics Sectors – state of play
The Nagoya Protocol is a major compliance challenge for many of our clients. In particular in the European Union, non-compliance puts market access at risk.
The Nagoya Protocol is an international treaty attached to the Convention on Biological Diversity that entered into force on 12 October 2014. It imposes a complex set of multi-jurisdictional compliance obligations on all businesses active in the cosmetics, food, pharmaceutical and other life science sectors.
In a growing number of jurisdictions, including all EU member states and Switzerland, compliance with the Nagoya protocol has become a significant market access requirement. In particular in the EU, non-compliance presents significant risks. It can delay license agreements and M&A deals, and may delay or even prevent marketing authorization applications. It could result in the forced repayment of public research grants, or it could even lead to administrative or criminal penalties.
Over the last five years, Covington has been at the forefront of these developments. In various roles, our firm has worked with companies and associations to shape the rules, limit their impact, implement compliance, and has led the first litigation before EU Courts.
This webinar will be of significant interest to cosmetics, food, or pharmaceutical companies, or companies active in the biotech, animal and plant breeding, and bio-control sectors who want to ensure they comply.