Yes, typically it would. If you look at article 39 in TRIPS and its equivalent article 1711 in NAFTA, it does contemplate that companies have to invest quite a bit of money to get the data that they would submit—and this is health-related, so it's safety and efficacy data—but then they have to give it to a third-party regulator, as it they wouldn't normally disclose that to competitors. So it is contemplated as being protected, and again, most people in the world would understand that this definition catches that.
What you do to disclose it, though, is a different issue.