Yes. Patent protection for a new drug is 20 years, and the “clock” starts when the patent is filed, which is usually 8–10 years before the drug clears clinical testing and obtains FDA approval. So, the pharma company has only the renaming 10–12 years to recoup its investment and turn a profit before the formula goes to the generics. This causes the drug to be priced accordingly, which is often VERY expensive in the case of medications which are not expected to be broadly used.
It seems obvious that the solution here is to amend the law so that in the case of pharmaceuticals, the “clock” starts either (a) the beginning of clinical testing (conservative) or (b) FDA approval (more aggressive).
Shit, the US bends over for Disney every time Mickey Mouse comes up for renewal…….why not do so for the good of the people of the country?