A bill to overhaul the patent system
A medicine company and its law firm WilmerHale, with hundreds of millions of dollars in drug sales at stake, insisted Congress for several years to get the patent laws changed. Finally a bill, for revamping the patent system, before the committee, contains a condition that could get a powerful law firm off the hook for a possible $214 million malpractice payment. This will clarify the time pharmaceutical companies have to apply for patent extensions that can provide extra years of guard from generic competition. Companies like Bayer and AstraZeneca might also benefit from patent extensions.