Sec. 2. Findings
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/bill/113/s/627/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress makes the following findings: The development of new medicines and vaccines is necessary to improve health care outcomes. Market exclusivity for new products is an expensive, inefficient, and unfair mechanism to reward investments in new products. By de-linking research and development incentives from product prices, and by eliminating legal monopolies to sell products, it is possible to induce investments that are medically more important, procure products at low prices from competitive suppliers, radically lower pricing barriers for access to new medicines, reduce wasteful marketing and research and development activities, and dramatically lower the overall costs of acquiring innovation, while expanding access to that innovation.
By funding innovation prizes at .55 percent of gross domestic product, the United States would provide more than $86,000,000,000 in rewards for successful innovation in 2012. The development of new medicines benefits from greater sharing of knowledge, data, materials, and technologies.