An Overview Of Patent Protection For Pharmaceuticals

A patent is an intellectual property right that provides the owner of an invention with the exclusive right to benefit from the commercial use of the product, such as producing, selling and exporting for a set period time. Patents encourage pharmaceutical companies to invent and develop new drugs, therefore patent protection also serves the improvement of research and development, and thus human health.

Pharmaceutical companies must adhere to a number of rules and legislation that regulate the clinical research, production, distribution processes, drug safety, quality, efficiency, pricing, marketing and promotion of their products. Research and development costs for pharmaceuticals are high, as are the risks of failing to successfully obtain authorization to market a product. Patent protection gives originator pharmaceutical companies an exclusive right to manufacture, sell, and benefit from a drug, and prevents third parties from encroaching on their inventions.