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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce.
That's a 10,000%+ markup. Shameful.
This is very incorrect except for the very high level. Patents cover systems and methods and devices that are more than mere physical phenomena. Patent owners are granted an exclusive monopoly over the implementation of what the patent issued on (i.e., its eventual claims) that runs up to 20 years from the time of filing. They are an intellectual property right premised in property theory.
Trademarks cover designators of origin. Fundamentally, they are to reduce consumer confusion and are ultimately nothing more than a presumption once granted in favor of the owner in unfair competition disputes. They are also an intellectual property but are premised in totally different theories of law and can apply to literally anything that can be strongly associated with a company, more or less.
Copyright is an intellectual property, yes, but is limited to creative expression fixed in a tangible medium. This is a very short sentence but has some pretty serious depth to it. Copyright is ultimately a very specific type of right to, and this may shock you, copying a thing (fixed in a tangible medium…you do not have copyright on ideas).
That all said, pharma patents and, really, industry as a whole is super fucked and needs serious reimagining in the current era. But some form of IP absolutely is necessary to incentivize and enable drug creation of it is to persist in our free market capitalist economic structure.
This is very incorrect except for the very high level. Patents cover systems and methods and devices that are more than mere physical phenomena. Patent owners are granted an exclusive monopoly over the implementation of what the patent issued on (i.e., its eventual claims) that runs up to 20 years from the time of filing. They are an intellectual property right premised in property theory.
Trademarks cover designators of origin. Fundamentally, they are to reduce consumer confusion and are ultimately nothing more than a presumption once granted in favor of the owner in unfair competition disputes. They are also an intellectual property but are premised in totally different theories of law and can apply to literally anything that can be strongly associated with a company, more or less.
Copyright is an intellectual property, yes, but is limited to creative expression fixed in a tangible medium. This is a very short sentence but has some pretty serious depth to it. Copyright is ultimately a very specific type of right to, and this may shock you, copying a thing (fixed in a tangible medium…you do not have copyright on ideas).
That all said, pharma patents and, really, industry as a whole is super fucked and needs serious reimagining in the current era. But some form of IP absolutely is necessary to incentivize and enable drug creation of it is to persist in our free market capitalist economic structure.
Eliminating capitalism sounds like an easier idea, to be honest.