Deep Dive 156 – Incentivizing Drug Development: Patents or Prizes?

Medical innovation has made modern life miraculous by historical standards, as demonstrated by the unprecedented medical response to the COVID-19 pandemic. What made this possible? What's the best way to ensure future innovation in the treatment of viruses like COVID-19, and of other diseases like hepatitis, diabetes, and cancer?This live podcast explores the legal rules and institutions best-suited to promote the development and commercialization of new drugs and vaccines. One key question is whether to use a prize or patent system to incentivize drug development. Another is whether consumers pay twice for patented drugs developed using funding from the National Institutes of Health. Experts debate these questions and discuss the the legal, economic, and policy considerations at play for efforts to promote new medical innovation.Featuring:- David Hyman, Scott K. Ginsburg Professor of Health Law & Policy, Georgetown University- Brian O'Shaughnessy, Partner, Dinsmore & Shohl LLP and Past President, Licensing Executives Society, USA & Canada- [Moderator] Adam Mossoff, Professor of Law, Antonin Scalia Law School, George Mason UniversityVisit our website – www.RegProject.org – to learn more, view all of our content, and connect with us on social media.