Word: patents
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Dates: during 1990-1999
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...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...
...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...
...fact that we didn't patent it makes us responsible," Wurtman says...
Wurtman says he therefore founded the company Interneuron in 1988 with MIT as a part-owner for the sole purpose of licensing drugs for which MIT owns the patent...