Longer Patents for Increased Generic Competition:The Waxman-Hatch Act after One Decade

Henry G. Grabowski and John Vernon

No 95-11, Working Papers from Duke University, Department of Economics

Abstract: The 1984 Drug Price Competition and Patent Term Restoration Act (the Waxman-Hatch Act) is unique in many ways. This Law was the first change in U.S. patent terms since 1861. It simultaneously lowered the barrier to entry for generic drug firms and increased patent terms for new drugs delayed by FDA regulation. In this paper, we analyze the Act has performed in practice, determining whether the Law has resulted in cheaper and better drugs.

JEL-codes: O34 (search for similar items in EconPapers)
Date: 1995
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Published in PHARMACOECONOMICS, Vol. 10 (Suppl. 2), 1996, pages 110-123

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