Patent systems are definitely broken. I think that’s the conclusion of most neutral observers starting fresh and that digging past the purely abstract or ideological level. The reason it’s hard to do something about is that patents are property and the legal setup for property is foundational to an economy. Patents are absolutely fundamental to the way medical research works today, especially the search for new treat…
I am not an expert on the economics of pharmaceuticals, however based on work of an expert I have come to believe that patents are not essential to the way medical research works today. Patents are essential to the current business model of pharmaceutical companies -- they are necessary to guarantee a return on investment, but the portion of the investment devoted to R&D and clinical trials is dwarfed by the marketin…
> Patents are essential to the current business model of pharmaceutical companies -- they are necessary to guarantee a return on investment, but the portion of the investment devoted to R&D and clinical trials is dwarfed by the marketing.
Your comment contradicts itself.
If, as you say, patents are "necessary to guarantee a return on investment", then it doesn't matter if the R&D is the largest cost or not, because the company won't produce a profit (and therefore won't produce new drugs) without the patent.
In fact, it's quite reasonable to think that both massive marketing and time-limited protection from competition are necessary to ensure enough of a return to guarantee continued investment into the industry. It doesn't have to be one or the other.