Patents in the pharmaceutical field last longer than patents in other fields because of their value and resources put into getting the patient, but for the COVID-19 vaccine, the patents may get waived. This will allow any pharmaceutical company to copy the vaccine. Will it happen? Watch today's #MorningMusing to hear what Reinhard thinks!

Like our Morning Musings? Consider getting your own Morning Musing book here: https://www.amazon.com/Morning-Musings-Reflections-Thoughts-Business/dp/B08DPVSR8K/ref=sr_1_2?dchild=1&keywords=morning+musings&qid=1599059585&sr=8-2

Transcript:
How long is a patent valid? Hello, this is Reinhard von Hennigs. Historically it's 20 years after the first patent. And in the pharmaceutical world, if the process after the patent, in order to get it ready for the market with regulatory approval, it takes way too many complicated studies. It is possible to extend it by five years to give the pharmaceutical companies an opportunity to recover some of the expenses.

So the maximum is 25 years after the first patent. But what's happening now? In light of the Corona pandemic vaccine, we are listening to different countries that want to shorten the patent or even set the patent aside for a limited amount of time to give companies an opportunity to copycat the Corona vaccine.

What does it mean? And why does it matter? Are companies who are then allowed to use the patented technology to make the corona vaccine, able to copy it and make it for the market? Maybe not because the whole pattern for the vaccine does not necessarily mean that they are able to use the patents with regard to the processes, to the manufacturing and whatever it takes to, for example, make a special mRNA vaccine.

So while it's good or not good to lift the ban on copying, it may not be used and might not get the desired result. Number two, what does it mean for pharmaceutical companies? Will they have no more incentives to develop a vaccine, for example, for the different variants? If you were producing something and were told by over a hundred countries right now that your research is worthless, would you be interested in making the second round of vaccines for the variances?

Maybe yes, maybe not. The future will tell, but the patent is not the real question here. The question is what does it take to get the world vaccinated?

#403, May 2021, vaccine, patent, pharmaceutical industry, research.

Welcome to our channel!

Our globally active team of attorneys
tax advisors and other consultants are able to offer clients a “One-Stop-Shop” for all of their commercial and tax-related matters. We work together with knowledgeable local partners to go above and beyond traditional legal and taxation advice.ridgehouseLaw is highly regarded throughout the international community for our legal and advisory services.

Our regional practice areas include the United States, Canada, Germany, France, Luxembourg, Italy, Austria, and Switzerland. We are represented in other locations of the world either through our own offices or partner offices within the Bridge Alliance. We know that foreign language skills, cultural understanding and access to expansive networks can make all the difference. Our advisors possess far-reaching personal and professional networks in these regions, and we are pleased to provide our clients with the connections needed to advance their own business interests.
US Location Charlotte NC
Phone: (980) 219-5200
[email protected]
Like us on Facebook @BridgehouseLaw
follow us on Twitter @BridgehouseUS
Find us on LinkedIn: BridgehouseLaw LLP
visit our website http://bridgehouse.law/