TED Talks Daily Why are drug prices so high? Investigating the outdated US patent system | Priti Krishtel
Jan 16, 2020
Priti Krishtel, a health justice lawyer, explores the convoluted relationship between high drug prices in the U.S. and an outdated patent system that favors big pharmaceutical companies. She explains how these companies exploit small changes to existing drugs to secure more patents, thereby hindering competition and accessibility. Priti advocates for five key reforms, aiming to redesign the patent system to better serve public health needs. Her insights shed light on the urgent need for change in the fight for affordable medications.
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Father's Invention
- Priti Krishtel's father, a pharmaceutical scientist, developed a drug for IPF.
- Krishtel's family reveres his patents, viewing them as enabling her achievements.
Outdated Patent System
- The US patent system, meant to incentivize invention, now fuels high drug prices, impacting access.
- Millions struggle to afford medications, leading to preventable deaths and financial hardship.
Gaming the System
- Drug companies exploit the patent system by filing numerous patents for minor changes to existing drugs.
- This tactic extends monopolies, blocks competition, and allows for arbitrary price increases.