Is there a Justification for the Existence of Patent Law in the International Pharmaceutical Industry?
Authors: Bashayer Al-Mukhaizeem Published date: 15-07-2019 Status: PublishedMoral and economic dilemmas are often caused by the patent system as new drugs enter the market. This is because patents are mostly centred on economic profit, regardless of the possible negative consequences on public health.(fn) Some of the consequences include the difficulty for the less economically-advantaged classes to access particular drugs(fn) and that a drug is often isolated from competition as a result of a 20-year mandated monopoly. Competition would contribute to a proliferation of medical products and, therefore, reduce the holistic medication price.(fn) Access to effective and affordable medicines is regarded as a prerequisite for global public health. At the same time, the pharmaceutical industries deserved remuneration for the product and its value which they produce. The current system is flawed and must be restructured.
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COPYRIGHT: © The UK Law and Society Association, 2019
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