Keeping the Wheels Turning on Patent Reform

Blog post about Senator Leahy highlight of President Obama's patent reform comments

PhRMA StaffFebruary 8, 2011

On Monday, Senator Leahy highlighted President Obama's Chamber of Commerce remarks in which he called for a need to reform our patent system. We're quick to recognize that patents - along with other forms of intellectual property - are a crucial incentive to innovate; in other words, they facilitate the work required to turn an idea into a usable product.

Senator Leahy's statement also reminded us of something that we often take for granted, however: the importance of policies that spur new ideas. Innovation is cyclical. Biopharmaceutical research companies don't rest on their laurels when a new medicine gains FDA approval and reaches the market. They dig in their heels and get to work, whether it's developing a product no one has ever dreamt of before or turning an existing technology into something much better than previously thought.

Just as we celebrate today's medical breakthroughs, we need a reliable patent system that helps to stimulate tomorrow's big ideas.

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