As it's required long before launching the drug, pharmaceutical companies are required to publish the structure of the molecule (the underlying active ingredient in their new drug.) Without a patent, anyone would be able to copy the drug and sell it. How does that create incentive for anyone to discover and development new medicines?
As it’s required long before launching the drug, pharmaceutical companies are required to publish the structure of the molecule (the underlying active ingredient in their new drug.) Without a patent, anyone would be able to copy the drug and sell it. How does that create incentive for anyone to discover and development new medicines?
Natural substances are not patentable, but they’re still sold (e.g., Vitamin A, vitamin K, etc.). The best brands sell expensively. So without patents there would still be incentive to sell drugs. Ton of the research is government-funded anyway, to the benefit of a private company.
Proving the safety of a substance is expensive in part due to excessive government regulations.