CAPA Praises Bloomberg’s Plan to Tackle Patent Abuse, Lower Prescription Drug Costs for American Patients
Presidential Candidate Mike Bloomberg Proposes New Patent Reform Plan to Implement Long Overdue Patent Reforms
IN CASE YOU MISSED IT: The Coalition Against Patent Abuse, a diverse coalition of healthcare providers, consumer groups, patient advocacy organizations, free-market advocates and others released the following statement today regarding presidential candidate Mike Bloomberg’s new drug pricing plan that would overhaul our nation’s broken patent system to lower prescription drug costs. Bloomberg’s plan would limit the number of patents available to new brand-name drug and biological applications to just one that lasts 20 years in order to make way for more affordable medications and treatments. This “one-and-done” approach would allow for low-cost generic and biosimilar competition to flourish by preventing manufacturers from making small, incremental changes to their products that simply extends their patent monopolies for years on end.
The following statement is attributable to Matthew Lane, Executive Director of the Coalition Against Patent Abuse:
“We are encouraged to see real solutions presented on the presidential campaign trail that focus on increasing access and affordability for patients, not the profiteering of big brand name pharmaceutical companies. We commend Mayor Bloomberg for taking initiative to address the issue of patent abuse by brand-name drug companies through a proposal that reduces patent thickets while bolstering competition and ensuring that there is a defined period of market exclusivity to drive biomedical innovation. It’s through these types of substantive plans that we will finally be able to bring relief to millions of American patients by lowering the cost of prescription drugs and increasing access to affordable medications and treatments.
“Abuse of the patent system must be met with action. We encourage presidential candidates on both sides of the aisle to take pharmaceutical patent abuse seriously and present their own solutions for increasing competition and treatment alternatives in the marketplace.”
Patent abuse by big pharmaceutical companies has a long history in the United States, with companies gaming the system to build “patent walls” around their products to stifle competition. For example, the rheumatoid arthritis drug Humira is lined with over 100 patents that make it impossible for new generics to bring the price of this needed drug down. With a one-and-done system, we could cut through the patent thickets and boost competition for the benefit of American patients.
For more information, please visit www.capanow.org