2010 alone, approximately 110 medications that were previously approved by the F.D.A., including some commonly known drugs such as Norvasc, lost their patent protection resulting in an almost $150 billion in savings per year. Patents contribute to innovation and in design in a way that cannot be quantified in purely economic terms. Inventions have a strong impact on extending human life and alleviating suffering. In 2001 the pharmaceutical industry introduced around 400 new cancer treatments, 123 new heart disease treatments, 83 new AIDS medications and 176 new therapies for neurological diseases. There is a cost to innovation, and without a profit incentive to large companies it is unlikely that discovery would progress at its current rate.
References Frank, R. G. (2007). The ongoing regulation of generic drugs. New England Journal of Medicine, 357(20), 1993-1996.
1
Generic and brand name drugs: Understanding the basics (Issue brief). (2007). Retrieved November, 2016, from Depression and Bipolar Support Alliance website.
2
Generic drugs: The same medicine for less money (Issue brief). (2014, July). Retrieved November, 2016, from Consumer Reports Health website.
3
Lehman, B. (2003). The pharmaceutical industry and the patent system (Rep.). Retrieved December 29, 2016, from Wake Forest University website.
4
Mandal, A. (2014, September 8). Drug patents and generic pharmaceutical drugs. News Medical. Retrieved November, 2016.
5
Sherwood, T. (2008). Generic drugs. Address presented in FDA White Oaks Campus, Building 2, Silver Springs, MD. Retrieved November, 2016.
6
United States of America, Food and Drug Administration, Information for Consumers. (2016, June 28). Facts about Generic Drugs. Retrieved November, 2016.
7
Š 2017, The Triple Helix, Inc. All rights reserved.
THE TRIPLE HELIX Spring 2017
27