Drug companies argue that patents are necessary for bringing new drugs to market, but they can also create incentives to withhold drugs. Prices for drugs in the US are intentionally high due to the for-profit system. Monopolies are granted for four years to companies that develop drugs, allowing them to sell medications at high prices. Laws and regulations protect these monopolies.
For decades, drugmakers have argued that patents are critical to bringing new drugs to the market. But in 2004, when a promising H.I.V. treatment emerged, Gilead Sciences decided to slow-walk its release to maximize profit on the company’s existing patents.
Rebecca Robbins, who covers the pharmaceutical industry for The Times, discusses one man’s case and how patents can create perverse incentives to delay new and better drugs.
Guest: Rebecca Robbins, a business reporter covering the pharmaceutical industry for The New York Times.
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