Attention Economy


Saturday, January 28, 2023

A Broken Patent System and the High Cost of Medicine


How a Drug Company Made $114 Billion by Gaming the U.S. Patent System
https://www.nytimes.com/2023/01/28/business/humira-abbvie-monopoly.html
AbbVie for years delayed competition for its blockbuster drug Humira, at the expense of patients and taxpayers. The monopoly is about to end. 

Pharma’s expensive gaming of the drug patent system is successfully countered by the Medicines Patent Pool, which increases global access and rewards innovation
https://theconversation.com/pharmas-expensive-gaming-of-the-drug-patent-system-is-successfully-countered-by-the-medicines-patent-pool-which-increases-global-access-and-rewards-innovation-189868
 
Related:
Intellectual Property Laws: Wolves in Sheep’s Clothing
Insulin is way too expensive. California has a solution: Make its own.
https://www.vox.com/policy-and-politics/23574178/diabetes-insulin-pen-injection-cost-california


My take: 
Health care and higher education: Key drivers of long-term inflation by Vivekanand Jayakumar | The Hill, 01/31/22
https://thehill.com/opinion/finance/591995-health-care-and-higher-education-key-drivers-of-long-term-inflation/
There is a role for well-thought-out fiscal interventions to boost efficiency and competition in the health care sector. Reforming the U.S. patent system and making the federal government a more effective negotiator that can leverage its role as a large-scale purchaser to attain lower pharmaceutical drug prices are low hanging fruit that can be plucked with bipartisan support if the Big Pharma lobby can be kept at bay.