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Forum nameHigh-Tech
Topic subjectYou are seriously blind as shit.
Topic URLhttp://board.okayplayer.com/okp.php?az=show_topic&forum=11&topic_id=266716&mesg_id=276447
276447, You are seriously blind as shit.
Posted by wallysmith, Mon Oct-08-12 12:03 PM
Stop making up arguments that don't exist, or ones that I'm not trying to make. Here is Judge Posner's take on why patents make sense for the pharmaceutical industry:

http://www.theatlantic.com/business/archive/2012/07/why-there-are-too-many-patents-in-america/259725/

The prime example of an industry that really does need such protection is pharmaceuticals. The reasons are threefold. First, the invention of a new drug tends to be extremely costly--in the vicinity of hundreds of millions of dollars. The reason is not so much the cost of inventing as the cost of testing the drug on animal and human subjects, which is required by law in order to determine whether the drug is safe and efficacious and therefore lawful to sell. Second, and related, the patent term begins to run when the invention is made and patented, yet the drug testing, which must be completed before the drug can be sold, often takes 10 or more years. This shortens the effective patent term, which is to say the period during which the inventor tries to recoup his investment by exploiting his patent monopoly of the sale of the drug. The delay in beginning to profit from the invention also reduces the company's recoupment in real terms, because dollars received in the future are worth less than dollars received today. And third, the cost of producing, as distinct from inventing and obtaining approval for selling, a drug tends to be very low, which means that if copying were permitted, drug companies that had not incurred the cost of invention and testing could undercut the price charged by the inventing company yet make a tidy profit, and so the inventing company would never recover its costs.