How do pharmaceutical companies extend patents?

New Formulations, Administration Techniques, or Uses Another relatively straightforward way drug companies can extend a patent is by reformulating a drug – often to simplify dosing or how it’s administered. Extended-release versions of drugs are common ways companies reformulate products, for example.

How do pharmaceutical companies profit off patents?

The patent system allows drug companies to profit from patents by prohibiting any other company from marketing and selling an identical prescription drug.

How long do patents last for pharmaceuticals?

According to statute, the granting of a pharmaceutical patent includes protection on that patent for a period of 20 years from time of patent filing.

Why did Martin Shkreli raise the price of Daraprim?

Shkreli went on to explain that the price of the drug brings Daraprim “more in line” with other drugs used to cure rare diseases, and that the company is using the profits from the drug to create better treatments for toxoplasmosis.

How long has dardaraprim been on the market?

Daraprim is a drug that has been on the market for over 62 years. Over its decades of use, it has become a globally accepted standard at treating a specific type of life-threatening parasitic infection.

Who is Martin Shkreli and why is he controversial?

Perhaps they remember that the 32-year old Mr. Shkreli has been the subject of controversy before. In his 20s, he started a company named MSMB Capital. That hedge fund company became infamous for urging the Food and Drug Administration to block certain drugs whose stock he was shorting.

How much does Daraprim cost per tablet?

Daraprim Price Hike. An infection-fighting drug called Daraprim recently made international headlines when it jumped from $13.50 to $750 per tablet overnight. Here’s the true story about Daraprim and the man responsible for its price jump, Martin Shkreli.