Congressman Henry Waxman: Limit pharmaceutical ‘monopolies’
In this disingenuous piece, Henry Waxman (i.e. his staff) use the word “monopoly” in place of “patent protection” approximately a dozen times.
Biotech drugs take about twice as long to get approved as small-molecule drugs. Waxman is arguing against extending patent protection for biotech drugs, so that generic drug companies can begin copying them as soon as possible.
Waxman seems to regard new pharmaceticals as something found under a log in the forest one day. Developing new drugs is in fact back breaking, and, get this, it’s optional. Nobody has to risk their money on this activity.