If gov’t can make or break your company, then you have every right to lobby them.
The author is also an ass. A patent is not granting a monopoly....it is granting competitive protection in return for developing an innovative product.
If the author knew anything about patent protection, he would know that you file the patent when you formulate the drug. It takes an average of 10 years before that drug is tested and approved by our loving and competent FDA, leaving 7 years to recover your sunk costs.
Oh, if the formulation fails to be approved, which happens more often than being approved, you still need to recover those costs. So the approved drug needs to recover its own costs, plus those of all the failed drugs.
Maybe some will understand why the prices are high during the patent protected period.
Take that patent protection away and new treatments and cures will never happen. Our medical progress will stagnate.
Then, these same morons will attack the industry for not developing new breakthroughs and that it is time to nationalize them under the caring and efficient management of the federal government.
So much focus on drug prices. Have any of these people seen the cost of hospital services lately?
Maybe some will understand why the prices are high during the patent protected period.
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Insulin, as mentioned in the story, is not a new invention. Why the extreme price differential?
It’s remarkable that a so-called “conservative” who couldn’t develop a life-saving drug if you gave him 50 years and and unlimited budget to get the job done will sit there and pontificate about how much a drug developed by someone else should cost.
You read the same nonsense from a lot of people right here on FR who claim to be conservative.
Actually a patent is a temporary legal monopoly. As a society we trade a temporary monopoly as a reward for and encouragement of, as you phrased it 'developing an innovative product.'
Protecting the innovation for 20 years from filing date provides a real economic incentive to do all the work needed to get a product to market. Protecting IP is a key driver of the ingenuity engine that drives our (and the world's!) economy.
(s) nully, who has several patents...
Exactly, read post 6.
We need to enforce our patents world wide.
This is why the difference in prices.
The rest of the world is getting a free ride on our research and development.
If they paid a little more, their "fair share", we would pay less.