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Patent Law Stifles Drug Innovation
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Issue
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| Contributor | RP |
| Last Edited | RP Dec 21, 2006 11:27am |
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| Category | Report |
| News Date | Wednesday, December 20, 2006 10:30:00 PM UTC0:0 |
| Description | A report by the General Accounting Office concludes that current patent law discourages drug companies from developing new drugs by allowing them to make excessive profits through minor changes to existing pharmaceuticals. While pharmaceutical research and development expenses have increased by 147% since 1993, applications for approval of "new molecular entity" (NME) drugs, or drugs which differ significantly from others already on the market, have risen only 7%. According to the report, the majority of newly developed medicines are so-called "me-too" drugs, which are substantially similar to existing drugs, are less risky than NMEs drugs to develop, and which "offer little in the way of therapeutic breakthroughs."
Under existing patent law, these "me-too" drugs can receive new patents separate from the already existing drugs they are based on, allowing drug companies to make substantial profits without signficantly enhancing the quality of drugs available on the market. According to the report, "the ability of drug manufacturers to easily obtain patents for minor changes to products, or to receive patent exclusivity for new uses of existing products, have reduced incentives to develop new drugs." |
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