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Why are patents important to medical innovation?

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.

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Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.