Priti Krishtel : Why are drug prices so high? Investigating the outdated US patent system

Priti Krishtel·TEDWomen 2019
Why are drug prices so high? Investigating the outdated US patent system
Summary
The story starts from a really romantic destiny part.
The speaker’s father seemed to study creating new drugs and the speaker helps to get its patent. If the drug that her dad created would be released 15 years before, her husband’s father might be saved.

Now, many drugs are invented, though, those don’t achieve people who really need it. It’s because there is a patent wall.

The parent wall is a strategy to block competition, though, it’s already the outdated system if America tries to export drugs to the rest of the world, it takes much time to issue because it’s complicated and the cost is expensive.

Not only the pharmaceutical industries are bad but the speaker suggests that the system that many poor people can use it, more new better drugs will be invented by many industries so the patent system should serve the public and corporations.

The speaker has five reforms.
1) To stop handing out so many patents because much money is used for changing only a little tweak.
2)To change the financial incentives of the Patent Office because involving a number of patents means to need much money.
3)To be able to be participated by more public people because Patent Offices should become a dynamic center by mixing citizens but the patent system is now like a black box.
4)To get the right to go to court. When so many people die or medicines are priced out of reach, we can use a court to change it.
5)To have strong oversight. The patent that is only testing is not an invention.

The patent that is to build monopolies, block competition and drive prices up is very important thus it shouldn’t become outdated.