Are just fines & defamations the true purposes of patents?
Wh
en was the last time the word ‘patent’ gave you a reason to smile? Well, “tough to remember at best; and never at worst”, right? Today, the word ‘patent’ has become a synonym for legal cases, fines & most importantly... negative publicity! For the initiated, it’s not a surprise that pharma industry is one where many ‘patent- dramas’ are witnessed. Pfizer, after having struggled with close to $900 million in total fines slammed by Federal authorities over its best-selling drug Lipitor (which raked-in an incredible $12.8 billion in revenues during 2006), lost out on a re-issuance of patent proceeding on August 17, 2007 – a ruling which would prove dear to the drugmaker (estimated to amount to $6 billion annually). Then there is AstraZeneca, which was fined a massive $82 million (by the Eurpoean Commission) for ‘adopting an unhealthy’ attitude by protecting its patented bestseller drug Losec in the open market.
For Complete IIPM Article, Click on IIPM Article
Wh
en was the last time the word ‘patent’ gave you a reason to smile? Well, “tough to remember at best; and never at worst”, right? Today, the word ‘patent’ has become a synonym for legal cases, fines & most importantly... negative publicity! For the initiated, it’s not a surprise that pharma industry is one where many ‘patent- dramas’ are witnessed. Pfizer, after having struggled with close to $900 million in total fines slammed by Federal authorities over its best-selling drug Lipitor (which raked-in an incredible $12.8 billion in revenues during 2006), lost out on a re-issuance of patent proceeding on August 17, 2007 – a ruling which would prove dear to the drugmaker (estimated to amount to $6 billion annually). Then there is AstraZeneca, which was fined a massive $82 million (by the Eurpoean Commission) for ‘adopting an unhealthy’ attitude by protecting its patented bestseller drug Losec in the open market.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
No comments:
Post a Comment