Patrick Hosking: Business commentary
Attend an evening with Andre Agassi
Something unfortunate happened to the pharmaceutical industry in the 1990s. The breakthroughs in theoretical science and in the capacity to juggle chemicals failed to translate into new blockbuster treatments. Eventually, that led drugs companies to put less money and effort into research and development and more into their marketing and legal departments.
Among politicians and the electorate, the suspicion has grown that pharmaceutical companies are more about schmoozing influential doctors and regulators and making cunning legal arguments in the patent courts than toiling blamelessly over a test tube.
That has led to harsher treatment in Washington and now in Brussels, which yesterday conducted dawn raids on some of Europe’s biggest companies, including AstraZeneca and GlaxoSmithKline in Britain.
Neelie Kroes, the EU’s Competition Commissioner, is looking for evidence that companies may have acted illegally to stymie the development of cheap generic alternatives, although there was no suggestion of wrongdoing by the companies raided.
Pharmaceutical companies are absolutely right to defend their patents rigorously, although they have at times gone too far in finding ploys to delay patent expiry.
Robust protection of intellectual property rights is the cornerstone of the industry. Brussels needs to be careful that it is not playing into the hands of copycat drugs firms with none of the research and development overheads of the larger companies.
If the end result is more people in the laboratory, Ms Kroes will have achieved a good result. But the investigation will be counterproductive if it merely encourages the hiring of yet more lawyers.
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
With rail travel in Europe on the rise, we review the benefits of travelling by train
In this special section we explore new food trends to help improve your dinner party and impress guests
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
1998
£47,955
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
Check your free Experian credit report before applying
Car Insurance
to £60K + bonus (OTE £90k)
Lord Search & Selection
Location Flexible
PwC’s Consulting practice helps businesses of all shapes
and sizes work smarter and grow faster.
£85k
CPA
Highly Competitve
Specsavers
Whiteley, near Southampton
Moments from Battersea Park.
For sale with Winkworth
Find out about shared ownership.
See your free Experian credit report beforehand
7nts - Penang £499; Borneo £699; All Inclusive £799 including flights, taxes, accommodation and private transfers
For your ultimate tailor-made ski holiday, click here
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.