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E. W. Kemble's "Death's Laboratory" on the cover of Collier's (June 3, 1905). A patent medicine, also known as a proprietary medicine or a nostrum (from the Latin nostrum remedium, or "our remedy") is a commercial product advertised to consumers as an over-the-counter medicine, generally for a variety of ailments, without regard to its actual effectiveness or the potential for harmful side ...
Rank Brand Name(s) Generic Name Sales Q1 2014 Sales ($000) Change from Q4 2013 Company(ies) Disease/Medical Use First Approval Date Patent Expiration Date [6] [7]; 1: Abilify
The term patent cliff refers to the phenomenon of patent expiration dates and an abrupt drop in sales that follows for a group of products capturing a high percentage of a market. Usually, these phenomena are noticed when they affect blockbuster products —a blockbuster product in the pharmaceutical industry, for example, is defined as a ...
With patents on many blockbuster drugs about to expire, an estimated $250 billion in sales are at ... Between 2010 and 2012, drugs that make up 42% of Pfizer's pharmaceutical revenue will lose ...
The original patent term under the 1790 Patent Act was decided individually for each patent, but "not exceeding fourteen years". The 1836 Patent Act (5 Stat. 117, 119, 5) provided (in addition to the fourteen-year term) an extension "for the term of seven years from and after the expiration of the first term" in certain circumstances, when the inventor hasn't got "a reasonable remuneration for ...
One exception occurred during the 2010 Swine Flu Epidemic when the FDA authorized expired Tamiflu based on SLEP Data. [9]The US FDA is able to extend the shelf life of drugs throughout national, state, local, tribal, and territorial stockpiles through two legal means: by issuing an Emergency Use Authorization on using a drug past its expiration date (which is legally an unapproved use of a ...
Legalwise, generic counterparts have to wait for at least 2 decades for patent expiration to sell a copy . This system is said to aim for a balance between gaining public access to generic drugs and encouraging drug research and development. [23]
Drug expiration is the date after which a drug might not be suitable for use as manufactured. Consumers can determine the shelf life for a drug by checking its pharmaceutical packaging for an expiration date. Drugs which are past their shelf life can decompose [1] and either be ineffective [2] or even harmful. [2]