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Is the Patent System a Barrier to Inclusive Prosperity? The Biomedical Perspective

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  • Helen Gubby

Abstract

As patents grant monopolies, the patent system has a considerable impact on markets. When corporations use certain patent strategies, social welfare can be damaged. This article focuses on how corporations use patent strategies in the biomedical sector. Strategic patenting makes it possible to extend monopolies beyond the designated period and block competitors. Access to fundamental research can be restricted. Patients are disadvantaged by high monopoly prices for drugs, which can mean exclusion from treatment. It is argued here that as biomedical technologies are so vital to the welfare of people, and that in some cases are literally a matter of life or death for patients, this area of technology should not be controlled by private companies through their patent monopolies. The whole biomedical sector should be taken out of the ambit of the patent system.

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  • Helen Gubby, 2020. "Is the Patent System a Barrier to Inclusive Prosperity? The Biomedical Perspective," Global Policy, London School of Economics and Political Science, vol. 11(1), pages 46-55, February.
    • Handle: RePEc:bla:glopol:v:11:y:2020:i:1:p:46-55
    DOI: 10.1111/1758-5899.12730
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    Cited by:

    1. Jaspreet Pannu, 2020. "Inclusive Biomedical Innovation during the COVID‐19 Pandemic," Global Policy, London School of Economics and Political Science, vol. 11(5), pages 647-649, November.
    2. van der Waal, Mark B. & Feddema, Jelle J. & van de Burgwal, Linda H.M., 2023. "Mapping the broad societal impact of patents," Technovation, Elsevier, vol. 128(C).

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