Global health care spending is predicted to reach $10 trillion USD during 2022 with almost 30% of it belonging to the USA. It might sound like a good industry to be in, but keep in mind that the costs of developing a new drug range from $300 million up to $3 billion USD. Without patent protection surely there would be almost no incentive for companies to take this risk. A patent gives the right assurance to a company that after taking the FDA approval, their...
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