President Obama is addressing the issue of moving generic drugs more quickly to market. Big PHARMA has had it’s way for the last 60 years with cost increases for medications far above the inflation rate. We now have drugs, single medications, that cost more than automobiles and over a lifetime more than the average home. Imagine, a single drug being the most expensive purchase of a lifetime. That’s the unsustainable monster we’ve created. More here from the Washington Monthly.
A medicynical approach would be to have market based patent durations. If priced reasonably a full patent would be awarded, if priced excessively the length of patent would be proportionally reduced. The devil, of course, is in the details.
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