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Module 24 discusses patents and how they create a barrier to entry. A U.S. Supreme Court
case was brought by the US Federal Trade Commission to halt the pay-for-delay tactics
sometimes used by pharmaceutical companies to contractually extend the effective patent
period of pharmaceutical drugs.
The pay-for-delay tactics are more fully described in Federal Trade Commission, “Pay-forDelay:
How Drug Company Pay-Offs Cost Consumers Billions”. Staff Study, January 2010.
(http://www.ftc.gov/os/2010/01/100112payfordelayrpt… )
A recent Supreme Court outcome is discussed in Edward Wyatt, “Supreme Court Lets Regulators
Sue Over Generic Drug Deals”, New York Times, June 17, 2013. (NY Times link) After reading these articles1
: 1. Explain how a patent creates a kind of monopoly and what benefits a patent conveys
to the owner. 2. Explain what happens in a market when patent protection for a technology runs out. 3. Explain the effects of pay–for–delay actions on producers and consumers. 4. Discuss whether pay–for–delay tactics should no longer be allowed, or should continue.
Be sure to support your conclusion using economic arguments.
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