Financial Times on alternatives to dogmatic IP protection

One idea currently circulating:

Recently, a bill (HR 417) was introduced in the US Congress. The proposal would radically change the way medical R&D is financed in the US. It would eliminate all market exclusivity on prescription medicines, in return for remuneration from a $60 billion per year Medical Innovation Prize Fund, that would be distributed to companies that develop new medicines on the basis of the incremental healthcare benefits the medicines deliver. The new US proposal shows one can separate the markets for innovation from that for products providing hefty financial incentives for companies investing in R&D, without harming consumers.

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