What is drug patenting?
Drug patenting is the process claiming a chemical formula to be used as a drug as the property of a single owner or company.SaleA patent on a drug prevents another individual or company from selling a generic version of the drug. The terms of the patent determine how long the original manufacturer of the product has exclusive rights to the production of the drug.Patent ExpirationUpon the expiring of a patent on a drug, another company can produce the drug. This means the original version of the drug and generic version can exist on the market at the same time.CostIn most cases, the generic version of a drug is less expensive than the name-brand version. This is often because the original company is attempting to recover funds spent in the research and development of the drug along with its initial marketing campaign.Generic ExclusivityIn some cases, the Food and Drug Administration will issue a 180-day exclusivity patent on the manufacture of a generic version of a drug. This means the
