Big Pharma Re-Purchases Patents to Drive Up American Drug Prices
The cost of medication throughout the U.S. is among the highest in the world. The American patent system remains responsible for overseeing the influx of new medical drug and device innovations. In theory, upon the expiration of a patent, generic drugs can be distributed (almost always at a lower cost). Many Big Pharma companies, however, are circumventing the patent system in order to delay the entry of generic drugs into the market. That can happen, for instance, by a drug company re-patenting an existing drug with a new dose schedule after the original patent has expired. As a result of this sort of practice, Big Pharma companies are able to secure monopolies in the market and drive drug prices up, undermining the incentive to innovate.
Blog post authored by Megan Foggia