In the last twenty years, extensive and uniform protections of intellectual property rights (IPRs) have been incorporated into the global trading system through initiatives such as the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement. Under this IPR regime, the development of new medicines is driven by the reward of high prices facilitated by temporary market exclusivity. While this method of incentivizing research has produced important innovations, it has also engendered unfortunate consequences. When a new medicine is protected from generic competition, its profit-maximizing price inevitably excludes a large proportion of the world’s population, even in affluent countries such as Canada. As a result of this system of incentives, people suffer and die needlessly as the medicines they need are out of their reach, and research is focused on medicines that can be sold at high prices, rather than on those that would lead to the greatest improvements in human health.