Sunday August 25, 2013, 8:56 am
Last month, Eli Lilly, one of the largest pharmaceutical companies in North America, filed a lawsuit against Canadian taxpayers for $500 million dollars. On what basis is an American corporation suing us for such an outrageous sum you ask? The $4.3 billion dollars Eli Lilly earned in profit in 2011 was not enough for the pharmaceutical giant.
Under the North American Free Trade Agreement (NAFTA), a company can sue another NAFTA country if that nation’s laws affect its expected future profit. In this case, Eli Lilly is “losing profit” because Canadian regulators dared to act within Canadian laws and rightly denied patents on two of Eli Lilly’s expensive drugs.
These lost-profit lawsuits by profit-hungry corporations have to stop -- otherwise, we will see the beginning of copycat lawsuits by foreign companies against Canadians. Speak out now against Eli Lilly and tell it to stop profit-motivated lawsuits like this one.
Eli Lilly: Drop your baseless, profit-motivated lawsuit against the Canadian government.
Sunday August 25, 2013, 8:02 pm
Signed and noted. We won't only see these frivolous lawsuits against the Canadian government, but also against the US if our government fails to regulate something and a foreign comapny takes umbrage...