“The final estimate is that it costs–including the expense of failed drugs–$802 million to take a drug from phase I trials to approval.” Healthcare-Economist.com
Don’t feel too sorry for the drug companies. Much of their research is paid for by our tax dollars. We pay. They end up owning the patent we paid for.
Pharmaceutical companies are among the most profitable companies in history. Obviously, they make a little money somewhere.
Will We Allow Big Pharma to Patent and Control Natural Products?
Behind the scenes, the pharmaceutical and biotech industries are trying to change the law—to benefit no one but themselves. Major Action Alert!
Big Pharma in general—and biotech in particular—are having trouble coming up with new-to-nature molecules they can successfully patent and turn into blockbuster medicines.
They know the healing power of natural substances. But natural substances are not supposed to be patentable. Or if they are patentable because a new process is involved, the patent protection may be weaker.
As we have noted many times, drug companies are not interested in medicines that cannot be patented or that hold weak patent protections, because they don’t earn enough money for the substances to be taken through the multi-billion-dollar FDA approval process and thereby gain a complete government-enforced monopoly, which brings with it the power to charge huge sums for the product.
Now they’re trying to get the US Patent and Trademark Office (USPTO) to change patent law about natural substances.
Pharma and biotech companies were dealt a blow in their efforts to “patent nature,” as it were, when the US Supreme Court struck down patents on human genes in 2013.
In its decision, the court wrote that Myriad Genetics, the private company seeking a patent on two genes which account for most inherited forms of breast and ovarian cancer, “did not create anything.
To be sure, it found an important and useful gene, but separating that gene from its surrounding genetic material is not an act of invention.”
ANH-USA strongly supported this decision. If Myriad’s patent claims were upheld, it would have meant that they had ownership over particular genes in the human body.
Patents on these genes would keep competitors from offering similar genetic tests, which restricts market competition—which in turn decreases prices, increases access, and improves the tests themselves.
It would also cut off scientific research: scientists outside Myriad couldn’t study these genes without Myriad’s permission.
The Supreme Court’s decision led USPTO to tighten its restrictions somewhat on patenting natural products.
According to an article in Science Magazine, this infuriated biotech firms, which contended that the new restrictive approach would discourage investment and innovation. Now, apparently in response to industry pressure, USPTO has promised to rethink its approach.
In its reappraisal, USPTO is considering a different framework to determine the patentability of products of nature…
Follow This Link to Learn More & Take Action Before Big Pharma Attacks Our Pockets to Create Gargantuan Profits From Natural Products Like Vitamins, Minerals, Essential Amino Acids and Herbs.