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28.03.2014.

The benefits of research and innovation

This study promoted a deeper understanding of the role of research and innovation plays in the development of medical treatment.

 

It evaluated the economic benefits of recent medical innovations and considered the concept of tradable intellectual property, often defined by patents or copyright. It found that when patent rights are upheld, research-based companies harvested the fruits of their investments in innovation, in effect enjoying a temporary monopoly.

 

The study argued against the abrogation of patent rights, because when the profits that a patent bestows are unavailable, it may be impossible to finance future investments in development.  This holds for the pharmaceutical industry or any other business. 

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