Further thoughts on the recent Supreme Court decision on patents, "obvious" innovation, and incremental innovation.
According to the Center for the Study of Drug Development at Tufts University, only 1 in every 5,000 compounds screened becomes an approved medicine. This means of every 5,000-10,000 compounds tested, only 250 enter pre-clinical testing, five into clinical testing and only one achieves FDA approval. Without financial incentives and intellectual property protection, no company, even ones with the most benevolent motivations, would find it feasible to develop new, innovative, lifesaving and life enhancing-products for consumers.
Allowing the private sector to bear both the risk and the reward for successfully developing pharmaceutical, biologic, and medical device products has been and remains the most successful and efficient way to meet our public health goals
Competition among companies, both here in the U.S and abroad, assures a diversity of expertise in various diseases. This competitive model assures that, when a public health crisis is identified, there will be an available pool of talent, experience, and infrastructure to give us enhanced opportunities to successfully identify and produce cures and vaccines in an expedited timeframe.
"Obvious?" Hopefully.
According to the Center for the Study of Drug Development at Tufts University, only 1 in every 5,000 compounds screened becomes an approved medicine. This means of every 5,000-10,000 compounds tested, only 250 enter pre-clinical testing, five into clinical testing and only one achieves FDA approval. Without financial incentives and intellectual property protection, no company, even ones with the most benevolent motivations, would find it feasible to develop new, innovative, lifesaving and life enhancing-products for consumers.
Allowing the private sector to bear both the risk and the reward for successfully developing pharmaceutical, biologic, and medical device products has been and remains the most successful and efficient way to meet our public health goals
Competition among companies, both here in the U.S and abroad, assures a diversity of expertise in various diseases. This competitive model assures that, when a public health crisis is identified, there will be an available pool of talent, experience, and infrastructure to give us enhanced opportunities to successfully identify and produce cures and vaccines in an expedited timeframe.
"Obvious?" Hopefully.
