Pharmaceutical companies face constant risk and pressure in bringing to market new drugs that meet the needs of patients. It has been estimated that out of every 5000 experimental compounds, only one will be approved by the Food and Drug Administration, at an average development cost of over one billion dollars and more than 10 years delay before market approval. Even with FDA approval only two out 10 new drugs will be able to recoup their costs. Intellectual property provides pharmaceutical companies with an incentive and resources to continue to innovate tomorrow's new drugs. This discussion will introduce patents and data protection, two key forms of intellectual property that allow pharmaceutical companies to manage risk while continuing to innovate.

Intellectual property:  Cornerstone of innovation

244th National Meeting (2012)

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