In a country where political influence is publicly exchanged for donations at the steps of congress, the Affordable Prescriptions for Patients Act prioritizes people over profits.
❌ 𝐒𝐭𝐚𝐭𝐮𝐬 𝐐𝐮𝐨: Back in 2010, congress enacted a law designed to resolve patent litigation cases promptly; streamlining strong patents, filtering out weak patents, and bringing innovative products to market faster in a process termed the “Patent Dance”.
👉🏾 𝐓𝐡𝐞 𝐏𝐫𝐨𝐛𝐥𝐞𝐦: Legal Loopholes within the US patent system enabled Pharmaceutical Companies to assert a theoretically unlimited number of patents for branded Biologics; extending the Patent Dance time and hindering patient access to low-cost alternatives.
✅ 𝐓𝐡𝐞 𝐁𝐢𝐥𝐥: This bipartisan bill limits the number of patents pharmaceutical companies can assert in infringement litigations, preventing branded manufacturers from gaming the patent system through endless troves of bad-faith patent assertions.
Although innovative medicines with broad patient impact have always been the gold mine for pharmaceutical companies, R&D incentives aren’t the pharmaceutical lobbies priority. The drug development journey is fraught with risks, intensive capital investments, and unpredictable challenges.
Instead of risking substantial capital on drug discovery, it's no surprise that drug developers opt to spend significant funding lobbying for:
💰 𝐎𝐩𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐨𝐟 𝐏𝐫𝐢𝐜𝐞 𝐂𝐨𝐧𝐭𝐫𝐨𝐥𝐬: Efforts to block legislation aimed at controlling or reducing drug prices can result in higher out-of-pocket costs for patients, making essential medications unaffordable for many.
📉 𝐌𝐢𝐧𝐢𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐃𝐫𝐮𝐠 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧𝐬: Minimizing drug regulation expedites market entry and maximizes profits; however, this can lead to inadequate safety measures, lowering drug safety & efficacy
💊 𝐃𝐫𝐮𝐠 𝐈𝐧𝐬𝐮𝐫𝐚𝐧𝐜𝐞 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 & 𝐑𝐞𝐢𝐦𝐛𝐮𝐫𝐬𝐞𝐦𝐞𝐧𝐭: Lobbying to ensure comprehensive insurance coverage for high-cost specialty drugs can lead to increased insurance premiums and overall healthcare costs.
Since Pharmaceutical companies have a fiduciary responsibility to maximize investor profits, it’s the responsibility of lawmakers, politicians and ultimately The People to advocate for affordable healthcare.
Special Thanks to Senators John Cornyn & Richard Blumenthal for leading the charge in lowering drug prices. 👏🏾
#Biotechnology #LifeSciences #Pharmaceuticals
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3moCongratulations, Elizabeth!