We need to start with a basic question: would the proposal under discussion waive IP rights, or would it simply allow for compulsory licensing, under which the company retains its IP rights and the right to earn a return from them? Of the two, compulsory licensing is preferable. By acknowledging that the creator is entitled to a return, it would minimise the adverse effect on future incentives. Of course, an important variable is what, exactly, is being licensed. Are we talking about the chemical composition of the drug itself, or does the license extend to all of the technology embedded in a scaled-up production process? Increasing global production would most likely require both. But, because proprietary manufacturing technology is not necessarily drug-specific, mandatory licensing in this case could affect the production of other drugs, raising concerns about fairness and the rate of return on investment. Moreover, transferring production technology is not always easy.