Without the guarantee of a patented marked up drug, would drug companies waste the same amount of money that they currently do on R&D? I'm of the opinion that we would see a major slow down in drug innovation without patents.
R&D is very wasteful and expensive. Patents prevent competition for a short period of time to help the business recoup losses from failed experiments and to deliver profits which serve as an incentive for more innovation.
R&D is very wasteful and expensive. Patents prevent competition for a short period of time to help the business recoup losses from failed experiments and to deliver profits which serve as an incentive for more innovation.