Forbes October 8, 2024
The Federal Trade Commission and Congress are ramping up efforts to rein in what they view as drug patent evergreening, a term referring to the continuing extension of patent rights on a specific product which serves to block generic and biosimilar competition from entering the market.
The United States patent system for pharmaceuticals aims to reward innovation by permitting drug companies to sell new medications on the market and bar other manufacturers from making generic or biosimilar versions for set periods of time. Once the patent expires, generics or biosimilars are allowed on the market, almost always at a lower list price than the brand name drugs.
Pharmaceutical companies can gain an average three years additional monopoly protection on branded...
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