Earlier quoted context omitted.
Absolutely correct. I used to work in this industry, and one of the 1st questions asked when we were thinking about testing a drug to treat a disease was "Does someone else 'own' this drug or do we?" If someone else 'owned' the drug, then there was no point in pursuing it because the true "owner" would crush us if the drug ultimately proved useful in treating disease. Interestingly, the people writing the drug patent…
doesn't that mean that if nobody owned the drug, drug companies would be free to work on a wider range of research?
You sink all of that money in, with the hopes that your drug gets approved. And then, once you've done the heavy lifting, every generic manufacturer can come along and sell the drug because you don't have it patented?
No rational person/company will do that.