Drug Patent Benefits

A patent is a government licensed confirmation that gives an individual or a company the sole right to exclude others from making, producing or using a certain product or selling it to others to make profit. A drug patent is an indentation using a substance or a chemical produced by a pharmaceuticals industry. A patent gives an individual or a company full control over their product. It stops other companies or an individual from misusing the product. A patent keeps other off the market and gives the patent holder an open market.
Even though a patent gives its holder a monopoly market, it is sometimes necessary to do so. A drug patent gives the pharmaceutical company the right to choose its consumers, price and supply. This does stop a lot …show more content…
If they cannot make money worth of their time and research, it will discourage a lot of companies from entering the market or doing the research. When a company comes up with a new product, it takes them years of research and trails to actually put the product in the market. They take a long term risk doing the research without knowing the future result. A research that can be successful or fail at any time. A research that can be shut down any time by the government for not following certain protocol. Therefore when they are successful in the research and comes up with a product, they want the exclusivity. They want to make as much money as possible. A money that makes their time and research worth it. This money also goes towards their future research. Having a monopoly market gives the company full control over the market. Pharmaceutical companies are in the health care business and …show more content…
Therefore the company does not get to make up for the time and money that were put into developing the drug. Patent actually attracts more companies to do more research and come up with new drugs. Even though patent allows companies to sell the drug for a higher price than they should be, it still makes companies more innovative and allows them to come up new product more and more.
Moving pharmaceutical industry works from private laborites to University have both positive and negative sides. Moving private laborites work to university will be cost efficient. It will bring the cost down of the research and open up doors for the companies to expand their research. Universities now a days play a huge role in creating and transfiguring new ideas to maximize the return. If companies invest in university to do their research, they expand their search area and allows more people to bring their