I-MAK

Brand-name drug companies routinely abuse the U.S. patent system to amass junk patents, which they then use to block competitors from entering the market. When that happens, drug prices skyrocket. As Economist Wayne Brough of R Street Institute explains, “you’ll see [drug] prices go up 200, 500% because [brand-name drug companies] have no fear of competition coming into the marketplace.”

In our September newsletter, Tahir Amin discusses: 🔵🔴 How either party can lower drug prices 💊 A new report from Accountable.US detailing how the manufacturers of the ten drugs on Medicare’s price negotiation list systematically abused the patent system ✍️ Wayne Brough’s new R Street Institute essay on how to address the pharmaceutical industry’s abuse of the U.S. patent system Read the newsletter: https://lnkd.in/eDmZFVtk

In our interview with Alex Lawson, Executive Director of Social Security Works, he walks us through “the monopolist’s game”: how the pharmaceutical industry leverages the proceeds of its monopoly power to expand that power. “This is the monopolist’s game and Pharma plays it very well.”

One-third of Americans cannot take their medications as prescribed due to costs. Vice President Harris has shown a willingness to take on the pharmaceutical industry and lower these costs, but to do so sustainably, I-MAK CEO Tahir Amin argues she must “look beyond prices paid at the counter and focus on how pharmaceutical companies are able to use the patent system to extend their monopoly power to block or delay competition”. Read the op-ed in Law360: https://lnkd.in/e-j4dgf8

It's almost go time - THIS SATURDAY is our Toast! You won't want to miss hearing from partners and advocates like Tahir Amin, Co-Founder and CEO of the Initiative for Medicines, Access & Knowledge (I-MAK); participating in some great giveaways; and helping raise funds for global patient advocacy! Click here to register now (we can't wait to see you Saturday!): https://lnkd.in/eQNMVNVe Loving our mascot, Toastie? Click here to shop our T1I Toast merch to collect them all: https://lnkd.in/gGsw8dm [Image Description: Series of three images. The first image has a blue background with an image of advocate and partner Tahir alongside white text, which reads, "'T1I’s tireless efforts advocating for patent reform to lower insulin prices, but also other medicines, has been pivotal to putting the issue at the centre of the efforts to lower drug prices across the board. I can honestly say that without their advocacy, ours and other groups efforts in bringing patents to the fore of this conversation would not have been as effective.' - Tahir, I-MAK." The second image has a blue background with the T1I Toast event logo above an image of mascot Toastie dressed as a croque monsieur by Hannah Suppiah, saying, "We can’t wait to celebrate with you. RSVP today!" The third image has a blue and white background with the T1I Toast event logo above dark gray text highlighting our event sponsors at the T1I Trailblazer and #insulin4all Visionary levels.]

Patients like Jacqueline Garibay often feel the healthcare system is rigged against them—and they’re right. The U.S. patent system was designed to encourage invention, but today, it’s common for brand-name pharmaceutical companies to abuse it to extend their ability to charge higher and higher prices for life-saving medicines. A system that should serve the public good ends up serving shareholders, while patients bear the unbearable financial and psychological toll of always wondering whether tomorrow will be the day they can no longer afford the medicines they need. Patients For Affordable Drugs

The USPTO is funded by fees collected from patent applicants, many of which are large corporations holding thousands of patents. This incentivizes the agency to cater to corporate interests by overgranting patents and ignoring the harmful effects that junk patents have on the public. “At the PTO, you have an organization that is built around viewing patent filers as customers of the agency, rather than as corporate interests to be skeptical of. This is not how government should work. There should be some skepticism that when a corporation does something that maybe they’re shading it in their own shareholders’ interests.”  - Jeff Hauser, Executive Director of Revolving Door Project

Swiss outlet Public Eye cites our blueprint for addressing patent thickets to call on Switzerland’s pharmaceutical giants - Roche and Novartis - to stop abusing the U.S. patent system. The article specifically looks at Entresto, the Novartis blockbuster which was selected as one of the first 10 drugs Medicare negotiated prices for. “Abusive secondary patents, which provide no therapeutic added value, only serve to fill the already well-stocked coffers of Big Pharma.” - Patrick Durisch  https://lnkd.in/gdPsRV-s

Arti Rai is an Elvin R. Latty Professor of Law and Faculty Director at Duke University School of Law. In 2021, she served as Senior Advisor on innovation law and policy issues to the U.S. Department of Commerce’s Office of General Counsel. Listen as Arti explains the far-reaching harm caused by brand-name pharmaceutical companies' patent thickets. “Patients are the most immediate individuals who are harmed by these high drug prices that are created by patent thickets. But it's important to note that it's not just patients but all of us because we all pay for public and private insurance and public and private insurance costs are raised by these patent thickets. So even if you're not a patient, you're paying for patent thickets.”

We’re excited to welcome Namita Dhawan-Muren as I-MAK’s new Legal Associate! With her expertise in patent and antitrust litigation and patent due diligence, Namita will be instrumental in shaping our policy solutions and strengthening our ability to navigate the intellectual property landscape to expose abuses of the U.S. patent system. 🔗 https://lnkd.in/eshwQNgh