Drugs and Intellectual Property Rights: positive and negative aspects
PharmaTutor (December - 2016)
ISSN: 2347 - 7881
(Volume 4, Issue 12)
Received On: 28/07/2016; Accepted On: 11/08/2016; Published On: 01/12/2016
J A Sathwara1*, A M Bhandari2
1* Department of Pharmacology,
A.R.College of Pharmacy &G.H.Patel Institute of Pharmacy, Anand, Gujarat, India 2 Department of Clinical Pharmacy, A.R.College of Pharmacy &G.H.Patel Institute of Pharmacy, Anand, Gujarat, India.
ABSTRACT:The development of drugs is costly for the Pharmaceutical companies and without the protection of Intellectual Properties, the formula for the drug can easily be duplicated and can be synthesized at cheaper cost. The U.S. intellectual property laws protect the rights of small inventors and large corporations alike to guarantee “the first to invent” the exclusive right to the patents. To solve the drug price inflation within the U.S., an initiative has been taken that drug patents are different from other innovations. Under the new plan, new drugs would be sold at generic prices upon FDA’s approval. New drugs will no longer be rewarded by net-profit from sales, but instead by Medical Innovation Prize Fund at a level of 0.5% of the gross domestic product, that provide money to developers of new products based upon the actual impact on health outcomes over ten years. Although patents protect the rights of the investors and courage innovations, there are certain ideas that should not been patented. Potentially lifesaving technologies should be separated from other type of innovations, and money making should not be the only inceptive for drug discovery. The number of worldwide who have access to medicines is low, an allowing patents on drugs, although increase the number of advancements in lifesaving technologies; it will decrease the number of people who access to them. International efforts should focus on allocating monetary motivation to provide people to access drugs.
How to cite this article: Sathwara JA, Bhandari AM; Drugs and Intellectual Property Rights: positive and negative aspects; PharmaTutor; 2016; 4(12); 29-32