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Second Generation Patents in Pharmaceutical Innovation
This is the much-quoted statement of Dr. Marica Angell, the former editorin-chief of the New England Journal of Medicine. It is a sobering reflection on the operational reality that the development of new medications and improvements to those medications play a crucial role in ensuring continued gains in health and longevity. The need for new medicines is never-ending. To spur the investment needed for the continued research and development (“R&D”) of new medicines, economic incentives are essential prerequisites. These incentives can also be provided by intellectual property protection --particularly patents --government funding, or other administrative policies.
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