Big Pharma has been filing multiple patents to block cheaper versions of their top sellers, advocates claim. Read more at straitstimes.com.
WASHINGTON - Makers of the top-selling drugs in the United States are costing patients billions of dollars and worsening a drug pricing crisis by abusing the American patent system to stifle competition and inflate prices, a consumer group said Thursday.
"US prescription drug spending, which exceeds US$400 billion today, is projected to reach nearly a trillion dollars by 2030," said I-Mak, a non-profit group of lawyers and scientists partly funded by groups critical of the pharmaceutical industry. Drugmakers have used the practice of seeking multiple patents for minor variations on a single invention to stave off generic competition for decades.
"Pharmaceutical companies secure hundreds of patents to block competition because they can," it said.
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