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¶ … ability of drug developers to protect their intellectual property.
The Me-too drugs
According to Angell, a Harvard Medical School lecturer, the 'me-too' drugs are being put out in the industry in large amounts. They are similar to the present treatments which mean that they are no better than the drugs that are already present in the market treating a similar condition. Even seventy-five percent of the drugs that are being approved by the FDA are me-too drugs so there is always a possibility that it can be more effective than the present drugs in the market but as long as they are effective as compared to a placebo, they would always get the approval of the FDA making it difficult for the drug developers to protect the actual drugs (Jones, 2004).
Inflated prices
The American industry spends a lot of money on marketing as compared to research and at least every 3rd drug that was marketed by the leaders of the industry were invented by small biotech firms or universities, however they are sold at inflated prices to the public. For example, Taxol which is a cancer drug, was discovered by NIH (National Institute of Health), but it was sold by Bristol-Myers Squibb for twenty thousand dollars a year, which is twenty...
Almost forty million people are without insurance while there is a lot of spending on healthcare in the U.S. as compared to other countries. The infant mortality rate and the life expectancy rate are also on the bottom but the system distributes the healthcare as a commodity and not as a social service that the country is doing. It gets worse when the investing companies compete with each other to insure the people on the lowest costs (Jones, 2004).
Describe two strategies now available to drug and device developers in the U.S. to extend their intellectual property exclusivity.
The U.S. has the largest pharmaceuticals market in the world and so it provides a large amount of exclusivities related to drugs in the industry which are available to both the generic companies as well as the innovators (Mistry & Maheshwari, 2015).
1. New Chemical Entity Exclusivity
NCE or New Chemical Entity is provided to a new drug that contains a new chemical entity. It offers 5 years of data…
Bibliography
Jones, M. (2004, September 07). The Truth About Drug Companies. Retrieved February 14, 2016, from www.motherjones.com: http://www.motherjones.com/politics/2004/09/truth-about-drug-companies
Mistry, R., & Maheshwari, D. (2015). REGULATORY EXCLUSIVITY STRATEGIES: FURTHER PROTECTION FOR PHARMACEUTICALS IN U.S., EUROPE AND JAPAN. WORLD JOURNAL OF PHARMACY AND PHARMACEUTICAL SCIENCES, 977.
In the contemporary cyber environment, innovation does not enhance success. For example, most patents such as songs and books receive low rewards. The author suggests that there is a need to make rules to enhance the bargain of intellectual property owners. Part 2 In the contemporary cyberspace and it world, the traditional copyright law has not been sufficient to protect intellectual property right in the face current development of computer and
Business operations are deemed viable of they succeed in establishing conditions that guarantee safety for its product consumers. Specified standards are applied by business entities to attain such viability. These considerations are critical in product safety, intellectual property, and marketing in general. If a company or business entity violates any of the aspects mentioned, it stands a high risk being caught in a web of ethical and legal complications that
Intellectual property can be a difficult concept to define because, at its heart, it describes property rights to intangible things, such as creations of the mind. Because this involves concepts rather than physical property, for years the courts and legal system did not extend property protection to these types of creations. This can be further complicated by the fact that some intellectual property has a physical, or tangible, component. For
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