This examine exposes the profound impression of prolonged patent safety that limits biosimilar competitors and maintains excessive drug costs for sufferers and payers.
— Tahir Amin
UNITED STATES, September 19, 2023/EINPresswire.com/ — The Initiative for Medicines, Entry, and Data (I-MAK), a number one advocate for equitable entry to medicines, is proud to announce the discharge of its newest examine, “The Burden of Patent Thickets.” This examine exposes the profound impression of prolonged patent safety that limits biosimilar competitors and maintains excessive drug costs for sufferers and payers. The examine highlights the staggering $158 billion in revenue amassed by drugmakers after the expiration of major patent safety from simply 4 biologic medication: Humira, Avastin, Rituxan, and Lantus.
Key findings from the examine underscore the pressing want for reforming the patent system:
– Market Monopolies Averaged 19 Years After Launch: The 4 biologic medication analyzed in the report loved a mean of 19.4 years of patent safety following their business launch earlier than encountering their first biosimilar competitors. This monopoly interval was lengthened by prolonged patent safety, which stifled competitors and restricted affected person entry to extra reasonably priced alternate options.
– Annual Revenues are Larger Throughout Prolonged Patent Safety: The examine reveals that every one 4 biologic medication continued to earn considerably greater revenues per 12 months after the expiration of their major patent safety. This extended interval of market monopoly allowed drugmakers to take care of excessive costs on the expense of sufferers and the healthcare system.
– Prolonged Patent Safety Accounts for Majority of Complete Gross sales: In the course of the interval of prolonged patent safety for these 4 medication, complete U.S. gross sales greater than doubled in lower than half the time in comparison with revenues generated through the major patent safety interval. This truth contributes to considerations concerning the sustainability of drug costs spending.
The findings emphasize the pressing want for policymakers, stakeholders, and the general public to have interaction in discussions about patent reform that may guarantee real innovations are solely rewarded and not gaming of the system to maximise revenues on the value of sufferers.
“Our examine of these 4 medication reveals how pharmaceutical firms have remodeled the patent system right into a financialised software to maximise revenue for the profit of shareholders, CEO’s wealth and firm energy, quite than one of invention that advantages the general public as was meant,” says Tahir Amin, CEO of I-MAK. “The fee of prolonged patent safety is harming sufferers and the sustainability of drug costs. These 4 medication are simply the tip of the iceberg.”
To learn the examine, go to at www.i-mak.org
Simon Tam
The Initiative for Medicines, Entry, and Data
+1 443-267-4666
simon@i-mak.org
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