Patent Reform And The Future Of Pharma Patents

Law360, New York (September 25, 2009, 12:35 PM EDT) -- The innovation spurred by a strong and reliable patent system is especially important for the pharmaceutical industry. The average investment in the development of a new drug is about 10 to 15 years and approximately $1 billion.

Indeed, in 2008, $43 billion was invested in the development of new drugs. To realize a profit from the huge investment in bringing these innovative drugs to market, the pharmaceutical industry relies on the protections afforded to them from patents.

A growing part of the market is biologics —...
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