The Coalition for Affordable Drugs identify pharmaceutical patents that the company thinks are weak or abusive. Then the company requests a unit of the United States Patent and Trademark office to look over the legitimacy of the patents. The company’s goal is to lower drug prices that are high by questionable patents.
J. Kyle Bass and Enrich Spangenberg are the movers and shakers behind The Coalition for Affordable Drugs. Their efforts are causing a storm with pharmaceutical companies like Frensenius Kabi and Citius. These two companies produce Propofol and Suprenza (a weight loss drug). Bass and Spangenberg hope their endeavor brings scrutiny to the patent office, in an attempt to expose the inner workings of a government agency that maybe corrupt.
For example, the drug Propofol is used in 80 percent of operations for the last thirty years is protected by a patent. The patent is not on the drug, but on the rubber stopper used on the container. According to The Coalition for Affordable Drugs the rubber stopper is the only thing stopping the drug from being dropped to a generic price. When drugs come off the patent they can be sold by generic drug companies. When this occurs prices fall to an economical level for the public. Companies try to extend the patent of a product before they are required to open to generic makers. This keeps the company from losing money by opening it up to lower prices through the generic company.
Every company has its critics, usefulstooges.com cites J. Kyle Bass as the M. Night Shayamalan of bad calls. They are as equally critical of Erich Spangenberg labeling him as the “world’s most notorious patent troll”. Bass does not dispute the allegations against him claiming when the stocks go down in the company whose drug patents have expired he makes a profit. Bass claimed he is doing it for a noble reason, but many of his critics think otherwise. One of those critics is Scott McKeown who is an intellectual property expert who says nothing in Bass’s history strikes him as being a humanitarian. Thus, McKeown dismisses Bass’s claim that he is trying to help patients.
Regardless of the view point, there seems to be legitimate evidence supporting The Coalition for Affordable Drugs. Patents being protected for financial advancement of the pharmaceutical companies, but not the patients and taxpayers will be filtered out over time.