This is something I have been giving some thought recently. The US has probably the strongest set of patent protections for drug companies and as a result, drug manufacturers tend to charge a lot for their brand name drugs in the US. At the same time, they might sell a lot of the same drugs for much lower prices in other parts of the world because they don't have as strong IP protections and possibly (when it comes to places like India and China) a marketbase where lower prices lead to higher profits.
As a result, the US effectively subsidizes a lot of the rest of the world when it comes to drug innovation.
There have been many ideas to change that or to reform the system so Americans aren't stuck with such expensive brand name drugs- this includes offering cash prizes for discoveries instead of patent reform.
I was wondering if anyone has any other ideas or knows of any other proposals that might help solve this problem. Perhaps an analysis of potential international treaties or agreements that could be put in place or something else.
Any thoughts, ideas, opinions on this?
As a result, the US effectively subsidizes a lot of the rest of the world when it comes to drug innovation.
There have been many ideas to change that or to reform the system so Americans aren't stuck with such expensive brand name drugs- this includes offering cash prizes for discoveries instead of patent reform.
I was wondering if anyone has any other ideas or knows of any other proposals that might help solve this problem. Perhaps an analysis of potential international treaties or agreements that could be put in place or something else.
Any thoughts, ideas, opinions on this?
