All articles tagged with #patent extension
AbbVie stock surged after securing a patent extension for Rinvoq until April 2037, protecting its revenue from generic competition and supporting its long-term growth prospects, with the drug's sales and potential new indications expected to further boost the company's performance.
Internal documents reveal that pharmaceutical company Gilead Sciences intentionally delayed the release of a new version of its H.I.V. drug, tenofovir, in order to extend the patent life of its existing blockbuster medications. The delayed release allowed Gilead to maintain high prices for its drugs and protect its market share from cheaper generics. The company's strategy, known as "product hopping," is a common tactic in the pharmaceutical industry. Gilead now faces lawsuits from thousands of patients who claim they were unnecessarily exposed to kidney and bone problems due to the delayed release. Critics argue that the U.S. patent system incentivizes companies to slow down innovation.