THE REFILL: Latest Dosage of Rx Patent Abuse
WHAT YOU NEED TO KNOW:
- The Bipartisan “Restoring the America Invents Act” Aims to Strengthen the U.S. Patent System, Lower Drug Prices for Millions of Patients
This year marks a decade since the America Invents Act (AIA) became law, which worked to balance healthy competition and innovation in the pharmaceutical marketplace. Notably, AIA created the inter partes review (IPR) process in which low-quality patents filed by brand name drug manufacturers are thoroughly reviewed in an effort to weed out bad patents.
To date, IPR has saved over $2 billion in deadweight losses. However, drug manufacturers continue to find and exploit loopholes in the patent system so they can continue reducing competition and increasing profits. Thankfully, Senators Cornyn (R-TX) and Leahy (D-VT) are working to restore the market to its natural balance through the “Restoring the America Invents Act.”
WHAT YOU SHOULD BE READING:
STAT News: Opinion: Solving The U.S. Drug Pricing Crisis Starts With A Crucial Confirmation Hearing
Tahir Amin and Priti Krishtel
- The Senate began its confirmation hearing last week for President Biden’s nominee to head the U.S. Patent and Trademark Office (USPTO), intellectual property attorney Kathi Vidal. While this is one of the more obscure U.S. agencies, it is pivotal in influencing the U.S. health system — from global vaccine equity to the country’s drug pricing crisis.
WHAT WE’RE SHARING