Does the medical industry support development of medications

Does the medical industry support development of medications that can’t be patented?

Just need one or two paragraphs.

Solution

Answer: Patent system is regarded to be crucial for promoting and protecting novel idea or research for innovation of pharmaceutical drugs and medical devices.Since research on development of drug takes long period of time along with hefty cost it incurre while running clinical trials, it makes manufacturer to get drug their patented. It provides monopoly in market so that manufacturer can have financial return on their investment by keeping price drugs higher than their competetitor for fixed period of time.

Of late, medical industry has come in support of medicines that cannot be patented so that effective drugs can be made available to all section of society at affordable cost.These unpatented drugs are bioequivalent in terms of safety and efficacy to their patented counterparts.Also, existing patent system dosent allow manufacturer to take up research on drugs that have already been discussed before but havent gone through clinical trials.Nobody wants to invest money on idea and drugs that dosent guarantee higher return on investment.This leads to impeding innovation in medical industry.