Biotech companies pay more to secure patents for their biotechnology products

Biotech companies pay more to secure patents for their biotechnology products

August 22, 2021 Comments Off on Biotech companies pay more to secure patents for their biotechnology products By admin

By Kate Woodrow, The Telegraph Technology companies are being forced to pay more for their patents to secure licences to grow the biotechnology industry, according to a report by research firm IMS Technology.

The report, which is being published by IMS and is based on an analysis of more than 2,000 applications, found that the biggest payers were the major drugmakers, which paid an average of $2,076 per patent for each million dollars of biotechnology revenue generated.

But the report also found that some of the biggest drugmakers have been paying less than other major players, with Biogen, a biotechnology company, paying a price of $1,664 per patent, compared with $2.1 million for Pfizer and $1.9 million for Roche.

A spokeswoman for Pfiser said: “Pfizer has a strong and growing biotechnology portfolio.

The company’s biotechnology investments have been supported by industry-leading patent portfolios.

These investments continue to yield record profits and the company has long recognized the value of these assets.”

Boeing said in a statement: “Biotech innovation has brought a new level of certainty to the pharmaceutical industry and is driving innovation in new areas of medicine.”

However, the report said the cost of securing licences is often higher than what the companies pay.

It said that some companies that use the most lucrative technology are also the ones that tend to pay the most.

“The vast majority of the patent applications that have been filed on the largest biotechnology companies’ patent portfolios were filed in the first three quarters of 2018, when the market was still very saturated,” the report found.

“This has led to the patent portfolio of the largest companies being substantially oversubscribed.”

It said the number of patent applications filed on top of the ones on the other three major drug portfolios rose from 4,000 in the second quarter of 2018 to 11,000 last year, but that this had lessened as a result of the biotech boom.

“As a result, in the final three quarters, the market cap of the top-ten largest companies fell by 5% compared with the first quarter of 2019,” the IMS report found, adding that this was due to a decrease in the number and volume of patent filings.

“In the second half of 2018 and in the current quarter, the patent portfolios of the five largest biotech companies have increased significantly.”‘

Not enough evidence’ to show there is an economic benefit for biotechnology firms from patents Biotechnology is set to be one of the most hotly debated topics in the coming years, as the sector tries to develop new medicines and vaccines.

While some people are optimistic that it will be cheaper to produce bioprocesses, others believe that patents will not be worth it in the long run.

“There is not enough evidence to demonstrate the economic benefits of biopharma,” said Dr Anthony Watson, director of IMS Biotechnology.

“And there’s been a lack of clear guidance from the regulator.”

Dr Watson said he believed that the cost to secure a licence would be about $4,000 per million dollars, and that the current patent portfolio is “more than sufficient to secure licenses”.

“This will allow companies to make the investments in biotechnology that will benefit them, rather than spending billions of dollars on research and development.”

However Dr Watson said that the report did not reflect the full range of biosecurity costs, such as the cost for treating infections and for controlling disease spread.

“It also does not account for the cost and delay associated with the licence application,” he said.

“And so in terms of economic benefits from the licence, it doesn’t add up.”

A biotechnology giant is paying an average fee of $3,000 to secure an application for a biopharmaceutical patent.

The average fee for a licence to grow a new biotechnology crop was $1 million in the third quarter of 2017, according a report in The Australian.

This is in line with figures for the biophyla market from the Australian National University’s Research Council of Australia (RCA) earlier this year, which showed that there was a total cost of $16 billion to grow biotechnology crops in Australia.

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