CNBC Commentary: Hedge funds, ‘reverse trolls’ crushing biopharma innovation
Wednesday, July 22, 2015
Posted by: Angela King
Patents are the lifeblood of medical innovation. They are the cornerstone that enables companies to perform the long and costly research and development for cures and therapies to combat devastating diseases such as cancer, HIV and Alzheimer’s.
Unfortunately, the system that helps protect these innovations is being abused by outside interests. BIO and others have called upon Congress to fix these problems as part of a greater patent reform debate.
Today one more voice joined the chorus calling upon Congress to promptly combat these opportunistic “reverse trolls.” Joseph Gulfo, executive director of The Rothman Institute at Fairleigh Dickinson penned an excellent op-ed that ran on CNBC’s website today.
In Mr. Gulfo’s own words:
“Despite hedge funds’ attempt to position these efforts as being in the public’s interest to reduce prices of drugs, this has the tone of stock manipulation, and the pharmaceutical industry has taken notice, calling for stricter standing requirements for IPR petitioners.”
For more information, read this statement on BIO’s opposition H.R. 9, the Innovation Act, or visit Patent Reform For Cures where you can contact your elected representatives to register your concern.
Source: Biotech-Now. http://www.biotech-now.org/public-policy/patently-biotech/2015/07/cnbc-commentary-hedge-funds-reverse-trolls-crushing-biopharma-innovation