What does a Speedometer and the Costs of Drugs Have in Common?
What does a speedometer and the costs of drugs have in common, not much right? Wrong…it’s all about the patents. The Supreme Court is scheduled to hear arguments in the case of Cuozzo Speed Technologies, LLC v. Lee, which is challenging the new procedure – called inter partes review for patent challenges.
When someone challenges a patent in the court, patents are presumed to be valid and understood by their “plain and ordinary meaning” but with the new procedure a more broad interpretation is applied; to drug makers this is problem. Per Pharmaceutical Researchers and Manufacturers of America, it costs an average of $2.6 billion to develop a new drug; patent protection is required to justify that investment. Read the article here…