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Ecuador's Correa plans to bypass drug patents

QUITO, Ecuador -- Ecuador President Rafael Correa says he is preparing to override a host of drug patents to provide lower-priced generic medications in Ecuador.

Correa says Ecuador will seek “compulsory licenses” from companies to produce medications considered indispensable.

Under World Trade Organization rules, countries can issue “compulsory licenses” to disregard patent rights, but only after negotiating with the patent owners and paying adequate compensation. Governments can skip the negotiating by declaring a public health emergency.

Correa says access to medicine is a human right and his decision is motivated by "the philosophy of 21st century socialism."

He made the announcement Saturday on the radio show "Dialogue with the President."

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