Abraham Lincoln wrote, "Patents provide the fuel of interest to the fire of genius." Indeed, patents are a crucial factor in innovation, ensuring that companies have the possibility of being rewarded for the major investments needed to develop a new medicine is vitally important. Medicines already have fewer effective years of patent protection than other U.S. products, and a growing number of generics are entering the market years before these patents expire. Preventing further erosion of patents in the U.S., and defending them in other nations, is needed to protect this important incentive for further investment.
Abraham Lincoln wrote, "Patents provide the fuel of interest to the
fire of genius." Indeed, patents are a crucial factor in
innovation, ensuring that companies have the possibility of being
rewarded for the major investments needed to...
More
PhRMA answered:Abraham Lincoln wrote, "Patents provide the fuel of interest to the fire of genius." Indeed, patents are a crucial factor in innovation, ensuring that companies have the possibility of being rewarded for the major investments needed to develop a new medicine is vitally important. Medicines already have fewer effective years of patent protection than other U.S. products, and a growing number of generics are entering the market years before these patents expire. Preventing further erosion of patents in the U.S., and defending them in other nations, is needed to protect this important incentive for further investment.