On September 24, President Ronald Reagan signed the Drug Price Competition and Patent Term Restoration Act. Better known by the name of its two sponsors, Senator Orrin Hatch (R-UT) and Representative Henry Waxman (D-CA).
The U.S. is actively negotiating with Mexico and Canada to revise the North American Free Trade Agreement (NAFTA). Provisions under discussion would increase brand-name drug exclusivity (monopolies).
Prescription drugs treat conditions and improve patient health. But when drug prices are too high, access to medicines becomes out of reach for far too many patients.
Macroeconomic pressures have hit the R&D returns of life sciences firms.