I came across this story as I was doing some research in to pharmaceutical drug patents and reasons behind it and came across this press release about drug companies in a panic as patents expire where they stand to lose $50 Billion in revenue. This is great news and means a shift to actually creating cures, but means they are now looking to take over and control the natural treatments market as they are running out of new patent applications that they can make.
As Techdirt recently discussed, the drug pipeline is running dry, as Big Pharma’s patents are beginning to expire, and the drug companies are freaking out.
For years they have been spending more money on research and testing and getting fewer results. This year alone they are going to have 11 patents expire on drugs that bring in approximately $50 billion in revenue to the big pharma firms. Of course, the flip side to this is that consumers can start saving about 95% on the price of those drugs, as generics hit the market.
The drug companies have gotten to a point where the incremental increases in efficiencies are so small as to be meaningless. What is coming is more personalized and targeted treatments for diseases — treatments that do not require bulk production of a specific chemical, but individual testing and personalized care, and not lifetime treatments and repeat sales, but cures.
This is an interesting article and just shows what the pharmaceutical companies are all about. The real issue in all this is that for years drug patents have massively distorted the healthcare market. Healthcare has not been the focal point at all and has been purely centred around creating patentable drugs in which to extract huge amounts of money often at the expense of peoples health.