WASHINGTON — Forget the push to bring more generics to market or to tweak Medicare’s arcane payment system.
Democrats, newly empowered in D.C. and on the hunt for bigger and bolder ways to lower drug prices, are suddenly taking aim at a far more central part of pharma’s monopoly power: the patents the industry holds on its drugs.
About the Author Reprints
The author unfortunately refers to “legislation that could end drug company monopolies,” which is just the sort of hyperbole that PhRMA feeds on. These proposals would not “end” monopolies, but rather regulate the use of — and combat the abuse of — monopolies. As we do in other sectors where monopolies exist. These are sensible proposals that should be debated. The US is virtually the only country that grants the patent (i.e. monopoly) and then allows the patent-holder (monopolist) to charge whatever price it wants.
It looks like these journalists/marketers did not look at the latest alternative facts coming from HHS. According to industry insiders at HHS lower pharmaceutical prices lead to socialism. In Alternate Fact America, this kind of market industry fluff continues to add to the death toll, as people die in the Epidemic of Despair.
Just giving the power to NIH to break a patent would have a chilling effect on pharmaceutical innovation. On the other hand, eliminating regulations that don’t improve safety or effectiveness would lower the R&D costs that drive prices by 80% or more. https://www.statnews.com/2018/10/01/changing-1962-law-slash-drug-prices/