March 13th, 2020 1:13 pm
Image of the Day: Patent Rights and U.S. Pharmaceutical Leadership
In our Liberty Update this week, we emphasize the critical role that strong patent rights play in U.S. pharmaceutical innovation. Although the U.S. accounts for just 4% of the world’s population and 24% of the global economy, we account for an astonishing 2/3 of new drugs introduced worldwide, as this helpful image illustrates perfectly:
Strong patent protections, along with our more market-oriented approach, have made America the world leader in pharmaceutical innovation. At a moment like this amid the coronavirus pandemic, it’s more important than ever to protect that legacy and oppose misguided efforts by some in Congress to undermine it.
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