PhRMA Fact Check: The truth about biopharmaceutical patents

29 August 2016

The myths and facts around the use of patents by drugmakers are analyzed by Mark Grayson, vice president communications and public affairs at Pharmaceutical Research and Manufacturers of America (PhRMA).

MYTH: Biopharmaceutical companies use government-protected monopolies to raise costs on medicines, Mr Grayson states in a ‘The Catalyst’ web posting.

FACT: Patent-protected medicines routinely face competition from other brand name medicines, which helps drive down costs while patent protection and intellectual property rights allow the biopharmaceutical industry to develop life-saving medicines and cures, he argues.

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