Elite Pharmaceuticals Inc (ELTP)

[WeeZuhl]

That would be the end for any new drugs.
R&D for NDAs will be a thing of the past.
Only generic co. will remain.
Investinting new drug development will end.
They won’t be able to recoup development costs.
Settle for current cancer treatments for ever.

This is funny. Here is the example given in the article linked by sharkey:

https://www.cnbc.com/2023/12/07/biden-administration-asserts-power-to-seize-drug-patents.html

But the Biden administration has also shied away from using march-in rights up until now. In March, the administration declined to break the patent of the costly prostate cancer drug Xtandi from Astellas Pharma and Pfizer.

The drugmakers charge more than $150,000 a year for Xtandi in the U.S. before insurance and other rebates, but charge a fraction of that price in other developed countries.

So let's look at this example of Xtandi (enzalutamide) specifically. Where did it come from?

https://en.wikipedia.org/wiki/Enzalutamide

Enzalutamide was discovered by Charles Sawyers, now at the Memorial Sloan–Kettering Cancer Center,[54] and Michael Jung at the University of California, Los Angeles.[55][56][57] They and their colleagues synthesized and evaluated nearly 200 thiohydantoin derivatives of RU-59063, an analogue of nilutamide, for AR antagonism in human prostate cancer cells, and identified enzalutamide and RD-162 as lead compounds.[34][57] These compounds were patented in 2006 and described in 2007.[9

Huh, doesn't appear to be from a pharma co, appears to be university-based research on a molecule that that was derived from university-based research. Let's dig deeper.

Here's the patent applied for by and assigned to the University of California:
https://patents.google.com/patent/US20070004753

Still no drug company! Let's check the notes.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2981508/

Funded in part by the Prostate Cancer Foundation, the National Cancer Institute and DOD PC051382 Prostate Cancer Research Program Clinical Consortium Award. N.J.C. is supported by the Charles H. Revson Foundation. Y.C. is supported by an ASCO Young Investigator Award and AACR BMS Fellowship. C.L.S. is a Doris Duke Distinguished Clinical Scientist. C.T., S.O., J.W., D.W., C.C., M.J. and C.L.S. are co-inventors on patent applications covering RD162, MDV3100 and related compounds. C.L.S. and M.J. have been paid consultants for and have stock options in Medivation, Inc. D.T. H. is an employee of Medivation, Inc.

So there you have it. This molecule was invented in a university-based lab by researchers who were supported by NIH and a variety of private foundations. It's not until the lead molecules have been identified and the university has applied for the patents does any corporate money get involved, and it all goes to two guys who become "paid consultants" with stock options. Not one single dollar of drug company money led to the invention of this molecule. Not $1. This drug was invented at a university with support from U.S. taxpayer-funded grants and U.S.-based private foundations. American taxpayers take the ball down to the 1 yard line, and the drug company scores the touchdown. Then they have the temerity to charge those same American taxpayers $150,000 per year and 1000x markup more than people in other countries pay for the same drug, thus putting it out of reach for virtually every American who needs it. It's sickening, and whoever uses whatever power they have to put a stop to it should have the full support of every American.

.