Reputation malaise has made the U.S.-based pharmaceutical industry vulnerable to “Beltway advocacy.” Science has lost its life-enhancing societal mystique and at risk is its intellectual property. Drug-discovery successes and the stellar reputation of the 1980s and 1990s — driving breakthrough treatments for AIDS, cancers, heart disease, and even once-considered deadly rare disorders — occur in waves of industry-inspired effort. But breakthroughs of the past may not be repeated if innovation is not championed through intellectual property protection.
Now, an industry seeking to guard its intellectual property, much like any business sector — from music to technology — is attacked as limiting fair competition. What is at stake is the right environment needed for innovation to impact worldwide human health. While the Federal Trade Commission and a few members of Congress believe patent-litigation settlements that include reverse-payment provisions (labeled by critics as “pay-for-delay”) cost the public by delaying generic market entry, pulling the plug on the ability to resolve…
Expert on this topic
Gil Bashe, Executive VP, Makovsky + Company