[Mike Palmedo] Some studies that estimating the impact that trade agreements have had on medicine prices have found it to be small, as the effects take a long time to become fully apparent. Studies that have instead studied the effect of TRIPS-Plus rules required by trade agreements – such as patent term extensions, rules on the protection of test data – have often found significant impacts on prices or availability of medicines. Many of the existing studies have focused on one country, and/or on a few drugs. In a new working paper, I take another approach by focusing on one TRIPS-plus provision required by all US trade agreements and demonstrating that the provision has been associated with faster inflation of imported pharmaceutical import prices in a set of 42 countries. Specifically, the price of drug imports rose on average between 2.4 and 4.5 percentage points faster in the countries that had implemented data exclusivity than in those without it.