Word: patently
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...Supreme Court ruled that a human-made microorganism qualified as patentable matter. The same year, Congress passed the Patent and Trademark Amendment Act, allowing universities to receive patents directly; to license patent rights; and to collect royalties on inventions from federally-funded research without seeking waivers from federal agencies...
...spurred by the expiration of patent rights on the acid blockers and growing competition from lower-priced generic drugs, the pharmaceutical firms are seeking and winning approval from the Food and Drug Administration for over-the-counter sales of somewhat milder versions of the blockers. At stake as the companies tout these products, say industry analysts, is an additional $1 billion in sales for heartburn medications. "This is a blockbuster," says Paul Kelly, president of Silvermine Consulting Group, in Westport, Connecticut. "It's the most dramatic medical launch since Advil." Two acid blockers, Tagamet HB and Pepcid AC, have begun...
Introduced in the U.S. by SmithKline Beecham in 1977 and under patent protection for 17 years, Tagamet was the pioneer acid blocker. Worldwide it has earned the company a total of $14 billion and was the first drug ever to chalk up $1 billion in sales in a single year. But in the late 1980s, anticipating the worst when its Tagamet patent ran out in 1994, SmithKline began conducting clinical trials and seeking FDA approval of an over-the-counter version. The wisdom of that decision became evident when Tagamet sales plummeted from $600 million in 1993 to only...
...decision, which allows the University to accept stock in a fledgling firm as partial compensation for the right to a Harvard-owned patent, was made by the University's highest governing board without the consultation of the committee--the very body charged with investiating this issue...
...would really think that issues that affect things like patent policy, licensing agreements--they have big impacts, potentially,...on [several schools]," said McKay Professor of Mechanical Engineering Frederick H. Abernathy, who was not on the committee...