A new report from the Government Accountability Office finds a slowdown in new drugs coming to market. Big Pharma is spending big money on research -- from $16 billion in 1993 to almost $40 billion in 2004 -- but it's not getting big breakthroughs and the number of new drug applications has dropped. One culprit? Abusive patent practices, says the GAO. But lawyers who represent pharmaceutical companies say the report is too simplistic, and its suggested changes to IP laws would only create new difficulties.
February 22, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A new report from the Government Accountability Office finds a slowdown in new drugs coming to market. One culprit? Abusive patent practices, says the GAO.
Big Pharma may be spending big money on drug research, but it’s not getting big breakthroughs. That’s the assessment of a report released in December by the Government Accountability Office that blames patents, among other things, for why innovative new drugs aren’t coming to market.
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