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Longer Patents for Increased Generic Competition:The Waxman-Hatch Act after One Decade

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  • Grabowski, Henry G.
  • Vernon, John
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    Abstract

    The 1984 Drug Price Competition and Patent Term Restoration Act (the Waxman-Hatch Act) is unique in many ways. This Law was the first change in U.S. patent terms since 1861. It simultaneously lowered the barrier to entry for generic drug firms and increased patent terms for new drugs delayed by FDA regulation. In this paper, we analyze the Act has performed in practice, determining whether the Law has resulted in cheaper and better drugs.

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    Bibliographic Info

    Paper provided by Duke University, Department of Economics in its series Working Papers with number 95-11.

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    Date of creation: 1995
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    Publication status: Published in PHARMACOECONOMICS, Vol. 10 (Suppl. 2), 1996, pages 110-123
    Handle: RePEc:duk:dukeec:95-11

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    Postal: Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097
    Phone: (919) 660-1800
    Fax: (919) 684-8974
    Web page: http://econ.duke.edu/

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