Thursday, January 30, 2020
Drug Patent Statement Essay Example for Free
Drug Patent Statement Essay Patent Laws Patent laws are created to protect the intellectual property rights of scientists and to motivate investors to produce rare drugs. Under the intellectual property laws in drugs, investors and investors could market and profit from their products for 18 years without the fear of losing sales from the threat of generic drugs. Effects of Drug Patenting            Patenting drugs creates an opportunity for brands to monopolize the market, thus, gaining complete control over the pricing of their product. It allows maximum profits for brands within the specific period allowed by patent laws, in this case 18 years. During the specific period allowed by patent laws, it is illegal for generic brands to infringe the rights of the patented drugs by marketing their products. This reduces competitive marketing, making it more difficult for the generics to penetrate the market. Naturally because of this reduced competition, prices are raised and the availability of drugs is decreased. This created the motion that patent laws should be limited to allow generic brands to enter the market more freely. Loopholes in Patenting            After a patent expires, the generic brands can market their product without the restraint or fear from any legal implications that could be brought to them by the patented brand. The entrance of generic brands could reduce the sales of branded drugs by about 80 percent (Herper). To maximize profits and at the same time reduce the threat imposed by generic drugs on their sales as well as legally, the inevitable expiration of patent is maneuvered by branded companies within the bounds of laws. The branded drugs could enter into private financial deals, usually by bribing drug companies who want to enter the market with their generic versions. Another way of maneuvering the laws include â€Å"attaching riders on to some pieces of legislation in the congress†to extend the patent of the brand (Kugler). Some companies perform slight changes in the formulation of their drugs to make a â€Å"new and improved†version of their product. As a result, when the drug patent expires, the consumers would not want to choose the generic versions, believing it less potent. This had been the case of Eli Lilly and Co. as they fought their way to win the case against generics maker Zenith Pharmaceuticals. The last claimed that Lilly’s patent on Zyprexa is invalid because it was too similar to its earlier patent. They argued that Lilly misled the institutions on the significance of their tests. Lilly on the other hand argues that Zyprexa is a more superior drug compared to its former and is worthy of its patent. However, according to Lilly, they had no plans of bribing their generic rival out of the case. Another way of maneuvering is when drug companies continuously file patent upon patent to extend their monopoly over the drug and challenge the generics. This works to the great advantage of the brands and otherwise to the generics because when a branded product challenges a generic in court, The Food and Drug Administration delays the former’s approval for 2.5 years (Herper). That is, if the case is not settled before that. This gives more time for the brands to profit their product at their monopolistic price.            The result is the constant legal suits of generic companies to invalidate the brand name patents of manufacturers that keep their generic versions off the market (Herper). Weakening patents means weakening incentives            The Pharmaceutical Research and Manufacturers of America (PhRMA) had been strong in responding to the proposed legislation by Edwards and Kennedy. According to them, â€Å"By weakening patent protection, the Edwards/Kennedy legislation harms patents and weakens the incentive to develop new medicine. Weaken patent laws will reduce drug research for rare diseases (Kugler).†           The Edwards/Kennedy Legislation (Greater Access to Affordable Pharmaceutical Act of 2001) is proposed to speed up the process in which generic drugs are approved. This will reduce the monopoly of branded drugs and increase the competition among drug manufacturers by making generic brands more widely available and thus, cheaper (Kugler). The legislation also wants to hold manufacturers to the Hatch Waxman act to ensure that practices in drug manufacturing and marketing are fair, competitive. The Hatch Waxman Act is created to increase development of generic versions of drugs and at the same time protect the patent rights of branded products. This is done by giving time for patented drugs to market and sell their products with consideration of the amount of time wasted in waiting for the approval of the Food and Drug Administration. This legislation, as well as the Hatch Waxman Act has made a huge cut in the profits of branded manufacturers. This is despite the claim that the Hatch Waxman act is also created to protect the patent of branded products. The shares of Lilly’s Prozac, for example dropped by 30% in just one day in August of 2000 after the declaration of a new patent ruling (Herper). This shows that investors are very reactive to changes and challenges in drug patents. However frivolous the challenges are, and however promising the potential of the drug is, the patent challenges have a negative impact on drug development. Any challenge in drug patents is as powerful as to reduce the investments to a very significant level that could wipe off any motivation and incentive for manufacturers to develop and produce drugs.            This, in general is the argument of brand manufacturersthat a decrease in drug patent provisions will decrease profits for branded drug makers, which will simultaneously reduce the incentives that are the primary motivators of inventors and investors. There is no significant connection between patent protection and drug research            The National Organization for Rare Disorders (NORD) believes that â€Å"It is the Orphan Drug act and not patents that have paved the way for the development rare drug products (Kugler).† The Orphan Drug Act of 1983 encourages the development of drugs for rare diseases by giving the manufacturers 7 years of exclusive marketing rights. Included in the provision of the act are the tax credits that should compensate for the manufacturers’, laboratories’ and investors’ research expenses (Kugler).            NORD implied that PhRMA is overstating that there is a significant connection between patent protection and rare disease drug research. This, according to them is needlessly inducing alarm among the patients.            The main argument against drug patent is the â€Å"unfair marketing practices†imposed by the branded drug products as supported by the intellectual property laws. A balance should be set to meet both the need for more affordable drugs and the need for new drugs.            If this is the case, that is, if the main problem is the power of branded manufacturers to set prices, it is not by limiting the provisions of patents that could increase the distribution at more affordable prices of rare drugs. It is by setting a middle point that could balance both the need for drugs and the motivation of inventors and investors through incentives.            A lot has already been suggested regarding this. One includes â€Å"offering drug companies a period of exclusivity without fear of patent challenges after a drug is approved (Herper).† More specifically stated, the proposal is to give drug patents a shorter term of 15 years (instead of 18 years) (Herper). In addition to this shorter term, it is suggested that the 15 years should start only after the approval of the FDA (Herper). At present, patents protect drugs from generic versions for 18 years exclusive of the 8 years or more that are needed for the product to pass the FDA tests. Also, to minimize the probability of monopolies, the prices of the products should be regulated that it will not harm the producers as well as the consumers. The provisions of drug patents should not be limited.            Undeniably, for a drug innovation to proceed, financing is very crucial, making the interest of investors necessary for the development of drugs. As implied earlier, decreasing the power of patents creates fear among investors in drugs whether or not this fear is justifiable by actual probabilities. The interest of investors in drug manufacturing depends very much on the idea that they could profit from it through patent laws. Threatening to limit this power and exclusivity would affect their interest and thus their motivation. Drug companies would not be rewarded and there would be less incentive to develop new drugs. This rebuts the NORD statement that it is not the patent that motivates or creates drug innovation. Limiting patents would in the short run decrease the prices and increase the availability of drugs but it will not produce drugs that are needed in the future.            The economic law states that a higher price of products would decrease the demand. This means that branded drug manufacturers could only rise their prices up to a point that they would still gain profit from what they invested. Higher than this point, they could not raise their prices. This is the point where the manufacturers would feel rewarded based on their contributions. Limiting the power of patents would make the manufacturers feel unrewarded because prices of the products they developed using millions of dollars are being sold at a cheaper rate compared to what it really is supposed to sell at. Consumers pay for the innovation and development. Without these manufacturers and investors, there would be no drugs. References Bioshield Bill Would Provide Drug Patent Term Extension. Apr 2005. Patent Baristas. 26 Sep 2006. http://www.patentbaristas.com/archives/000161.php Drug Patent Deals Raise FTC Concerns. 2006. Patent Baristas. 26 Sep 2006 http://www.patentbaristas.com/archives/000319.php Farnsworth, S. n.d. The Drug Monopoly. Multinationalmonitor.org. 26 Sep 2006 http://multinationalmonitor.org/hyper/issues/1993/11/mm1193_09.htm.save. Fernandez D. and Huie J., n.d. Strategic Balancing of Patent and FDA Approval Processes to Maximize Market Exclusivity. Fernandez and Associates. Iploft,com. 26 Sep 2006 http://www.iploft.com/FDA%20Poster.pdf#search=hatch%20watchman%20act. Food and Drug Administration 1984. Drug Price Competition and Patent Term Restoration 26 Sep 2006. http://thomas.loc.gov/cgi-bin/bdquery/z?d098:SN01538:@@@Dsumm2=m|TOM:/bss/d098query.html|. Herper, M. 2002. Solving the Drug Problem. Forbes.com. 26 Sep 2006. http://www.forbes.com/2002/05/02/0502patents.html. Herper, M. 2005. Drug Patent Peril. Forbes.com. 26 Sep 2006 http://www.forbes.com/technology/2005/01/26/cx_mh_0126patents.html. Kugler M. 2002 July. NORD Rebuts PhRMA Drug Patent Statement. About.com. 26 Sep 2006. http://rarediseases.about.com/library/weekly/aa071402a.htm. Nair, MD. n.d. Harmonization of Patent Lawsâ€â€Still a Dream? Patentmatics.org. 26 Sep 2006. http://www.patentmatics.org/pub25.htm. Swiatek J. 2004. Lilly Battles Patent: Lilly Battling to Retain Patent on its Top Drug. Indystar.com. 26 Sep 2006. http://www.antidepressantsfacts.com
Wednesday, January 22, 2020
Nightlife Pleasure vs. Pressure Essay -- miscellaneous
Nightlife Pleasure vs. Pressure Lebanese nightlife mixes people of all ages & backgrounds together into a very unique mode of entertainment. Some people are against going out at night and others are addicted to going out nightly. The different perspectives of the various people give better insight on finding out just how serious some issues on nightlife affect one another. If there is a direct way to find out just how the night life is for those that go out, no other person would be better to hear it from then the average college student. Their perspectives are indeed varied, but the argument is good. â€Å"It is essential for my buddies and I to go out†said Marwan Nouihed, a Senior in LAU. â€Å"I just don’t like the way that people go out just to be seen, and they don’t notice that they are over-exposing themselves†quoted Yasmine Shuhaiber, a freshman. What many may know is the substance abuse that enhances people going out, but they have no idea as to the extent of how serious it is consumed. â€Å"If I don’t drink there is no party, so whenever I’m out at night people better pour out a little liquor†views Ali Bini a Junior. â€Å"It’s not about drinking, that’s for kids, these days we look forward to stronger drugs to make us feel good†whispers Yamen Sukkarieh, a 23 year old. In general everyone consumes alcohol, but for those that don’t enjoy it, they find other methods to feel good. â€Å"You know what the main problem is about drinking or taking drugs? It’s the price everyon...
Tuesday, January 14, 2020
Merge of American Airlines and Us Airways Essay
The buzz in the airline industry in February 2013 was all about the potential merger between American Airlines and US Airways since that would make the merged company the number one airline in the industry globally. Despite the some cynical comments veteran investors hold for investing in the airline industry, which will be mentioned below, as well as the unforeseen lawsuit being thrown at their way, it is an investment that is strongly suggests a profitable investment in the long run. First of all, the potential profitability of the merger could be foreseen by reviewing past cases of airlines mergers such as the merge between United Airlines and Continental Airlines as well as Delta Airlines and Northwest Airlines. Delta Airlines and Northwest Airlines merged in 2008 and United Airlines announced their merger with Continental Airlines 2 years later in 2010. Delta was not profitable right off the bat after their merger but took them a few years to turn things around balancing with th e economical situation and oil prices. â€Å"Most pros consider the industry untouchable because the airlines have historically operated irrationally and have always been at the mercy of oil prices, unions and new competition†(Feinberg, 2013) but then again Feinberg says that United, Delta as well as US Airways â€Å"have been making money for the past three years and may achieve record profits in 2013†(Feinberg, 2013). Post merger of United Airlines and Continental Airlines, â€Å"the parent company of United Airlines, one of the world’s largest carriers, reported a $448 million quarterly net loss, pressured by high fuel costs and expenses related to problems integrating some operations of United in its merger with Continental Airlines†(2012). †But the problems appear to be largely over. So far this year, United shares are up 22%, the S&P 500 Index is up 14.5% and Delta shares are up 66%. No doubt, Smisek seeks room to grow (Reed, 2013).†United is also looking to enhance their services for corporate customers by â€Å"revamping its aircraft that fly from JFK to Los Angeles and San Francisco, adding â€Å"flat bed†seating and faster, complimentary Wi-Fi to its premium sections. American is adding state-of-the-art Boeing 777-300ER aircraft to its fleet, the largest new aircraft used by a U.S. carrier since 1990. Its premium cabin has a walk-up bar stocked with snacks–a first for any U. S. airline, the company boasts†(Fickenscher, 2013). Another crucial factor that indicates sustainable growth are the soft skills; â€Å"A new American Airlines combining US Airways is fortunate to have US Airways CEO Doug Parker at the helm, because he appears to understand not just the nuts and bolts of merging logistics systems but also the human process of ego suppression. This would be the second time his smaller airline has merged with (taken over, some would say) a larger one, and the second time he has let go of the identity of the enterprise he built (HBS Working Knowledge at Forbes, 2013). †Creating an executive management team that is functioning well as a strong team is crucial to an M&A situation. They also need to have a clear vision of the company in order to overcome all the minor speed bumps they will inevitably go through with the merger. Currently, American Airline s and US Airways are facing on going lawsuits against the US Justice department. Depending on the outcome of this lawsuit, American Airlines will either move on with their original merger plan or if blocked, then they would have to reorganize a new plan while operating in bankruptcy. References Feinberg, Andrew. 2013. â€Å"News Flash: Airlines Soar.†Kiplinger’s Personal Finance 67, no. 7: 38. Business Source Complete, EBSCOhost (accessed September 15, 2013). 2012. â€Å"United Continental’s Loss Widens, but Less Than Expected.†New York Times, April 27. 4.Regional Business News, EBSCOhost (accessed September 15, 2013). Reed, Ted. 2013. â€Å"No Wonder United’s CEO Is Buying United Stock.†Forbes,com, September 1. Accessed September 15, 2013. http://www.forbes.com/sites/tedreed/2013/09/01/no-wonder-uniteds-ceo-is-buying-united-stock/. Fickenscher, Lisa. 2013. â€Å"Mergers put biz travelers in first class.†Crain’s New York Business 29, no. 27: 3. Regional Business News, EBSCOhost (accessed September 15, 2013). 2013. â€Å"Big Deal: Reflections on the American and US Airways Megamerger.†Forbes.com 10. February 19. Business Source Complete, EBSCOhost (accessed September 15,2013).
Monday, January 6, 2020
The Dark History of Thanksgiving - Free Essay Example
Sample details Pages: 1 Words: 417 Downloads: 2 Date added: 2019/03/29 Category Society Essay Level High school Tags: Thanksgiving Essay Did you like this example? Most of us associate Thanksgiving with gleeful faces and pumpkin pie. But little do you know theres more to it than you think. Let us go back to the 17th century. Before we can even think about a big feast, the Pilgrims and Native Americans came across a rough path. They had consistent wars with each that soon turned into a bloodshed, not comradeship. And that was one of the main effects of how these factions crossed lane. Don’t waste time! Our writers will create an original "The Dark History of Thanksgiving" essay for you Create order In primary school, we were taught that Thanksgiving was based on the pilgrims, a person who makes a journey for religious reasons. However, the pilgrims associated themselves with the Wampanoag (Eastern) Indians because they were struggling on how to live in the New World. The pilgrims wanted to return the favor so they got together with the Wampanoag Indians and celebrated with a big feast in 1621. According to TIME, 90 men from the Wampanoag tribe and 50 Mayflower passenger that survived attended the feast. Based on, Smithsonian Magazine their menu included deer, fowl, and corn and the event lasted for three days. Past centuries, Thanksgiving was a religious observance for pilgrims however on the hand it was mainly celebrated because of the colonial soldiers who had slaughtered 700 Pequot men, women, and children in what is now called Mystic, Connecticut. Even after what the Wampanoag Indians did for the English settlers, they went behind their back and brought disease that reduced the population of the Native Americans by as much as 90% from 1616 to 1619 and so on this was called the Indian fever, according to The Gilder Lehrman Institute of American History. Wanoanage responds to this by an attack, therefore the New England Confederation of Colonies declared war in 1675. The war drew attention to nearby tribes which caused them to join, one of them were Narragansetts and other colonies such as Rhode Island and Providence Plantations was dragged in the war. Colonist relocated to more secure areas where on the hand, allied tribes and Wampanoag Indians were forced to flee their villages. In the meantime, Metacomet, chief to the Wampanoag people and the second son of the sachem Massasoit, crossed over into New York to recruit allies however he ended up getting attacked by Mohawks and his remaining allies were killed or sold into slavery in the West Indies, based on It Happened In Rhode Island. Thanksgiving focuses on the innocent memories while ignoring all the bloodshed memories. Nowadays Thanksgiving is all gleeful faces and pumpkin pie but thats not the whole history.
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