Why Aren't the Democrats Talking About Ending Patent Financed Drug Research?

http://www.counterpunch.org/2019/07/09/why-arent-the-democrats-talking-about-ending-patent-financed-drug-research/
Date Written:  2019-07-09
Publisher:  CounterPunch
Year Published:  2019
Resource Type:  Article
Cx Number:  CX23764

Presenting a case for replacing government-granted patent monopoly financing of pharmaceutical research to make drugs available at free market prices.

Abstract: 
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Excerpt:

First, it is necessary to realize that having drugs available at free market prices, without patent monopolies or other forms of exclusivity, would have an enormous impact on the economy and the health care system. On the first point, we will spend more than $460 billion on prescription drugs in 2019. Without patent protection, these drugs would almost certainly sell for less than $80 billion, implying a savings of more than $380 billion....

The basic story is drugs are cheap. It is rare that the manufacturing and distribution process involves major costs. Prices are a problem because of government-granted monopolies.

The patent problem goes beyond prescription drugs. It applies to medical equipment and medical tests as well. An MRI or other scan would just be a couple of hundred dollars if it was a question of covering the wear and tear on the equipment and the pay for a skilled technician to conduct the scan and a doctor to read and assess the findings. It is patent monopolies that make these scans expensive.

There is one other important aspect to the switch away from patent monopoly supported research to direct public funding; it can be done piecemeal. There is no reason to deny companies the opportunity to go ahead and do research with the expectation that they will recover the costs with their patent monopolies. They just would have to worry that they will be competing with a new drug that is every bit as good, or possibly even better, selling at generic prices.