patents

Patent protections on new drugs have unleashed an unprecedented wave of innovation that has benefited patients and should be fiercely guarded, according to a new study published by Pioneer Institute. New research indicates that price controls contained in the Inflation Reduction Act will result in 230 fewer drugs coming to market over the next decade and job losses of between 730,000 and 1.1 million.

The Biden administration's formation of a working group to “develop a framework for the implementation of the march-in provision of the Bayh-Dole Act" could have serious adverse consequences for university research and biopharmaceutical innovation. It represents a particularly dangerous threat to the thriving life sciences cluster in Greater Boston.

Senator Bernie Sanders and his advisors have not caught onto the fact that the problem for consumers and patients is no longer the list prices of prescription drugs but skyrocketing out-of-pocket costs due to health insurance benefit design.

Drug patents are one of the most important public policy innovations in all of human history, and a boon to patients awaiting cures. Inventions only come when inventors are rewarded, not punished. Patents are not a “necessary evil.”