Word: patent
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Dates: during 1980-1989
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Because the discovery was made under Harvard's aegis, the patent for the new chemical belongs to the University, and the two professors will receive a huge cut of any future roylaties. And profits from the discovery will soon flow in, as Cambridge Bioscience, a biotechnology firm in Worcester, has already bought a license to develop and market GP120. This seems to have all gone according to the book--the redbook containing Harvard's research and patenting policies, that...
THIS cooperation has grown close in recent years, maybe even uncomfortably so. According to the Association of American Universities, between 1980 and 1985 the total amount spent by industry on universities rose from $277 to $482 million. Simultaneously, the number of patents and royalties have jumped, with Harvard last year doubling its revenues from patent royalties. Ties between universities and industry are even tighter in biotechnology--a 1984 Kennedy School study revealed that as much as 25 percent of all such research in higher education is funded by companies and that such university research produces more patents than company work...
...current biotechnology boom makes patents and consulting more financially attractive, it is imperative that the University keep a careful eye on its faculty and their relations with industry. The deal involving GP120 and its undisclosed contract signals the return of the problems that plagued Harvard a decade ago. If Essex owns shares in Cambridge Bioscience, did he work on GP120 in the hopes of someday profiting from his work? Did he use his position at the company to influence its decision to buy the chemical's license, and did he use his university post to steer the patent toward Cambridge...
That is especially true in the risky, cutthroat pharmaceutical business, where the typical product costs about $125 million to bring from the laboratory to the pharmacy shelf. Although drug patents can last up to 22 years, firms must test a product for several years after a patent filing to win approval from the Food and Drug Administration. That gives competitors, who have access to the filing, time to tinker with a patented compound and make it different enough to qualify as a new drug. Growing, too, are the ranks of generic-drug producers who do little or no research...
...preliminary tests shrank swollen prostate glands without bad side effects, alleviating a problem that vexes millions of men over 40. Other teams are studying cures for cataracts, arthritis, cancer and AIDS. But so are Merck's rivals. London-based Burroughs Wellcome last week won, as expected, the U.S. patent on use of the drug AZT against AIDS, thus giving the company an early lead in that market...