Passage:
In the mid-twentieth century, major European pharmaceutical companies funded basic research primarily through profits generated from legacy chemical patents. By the late 1960s, however, escalating regulatory standards lengthened the average clinical trial duration by nearly 50 percent, severely diminishing the net present value of newly filed patents. In response, corporate leadership shifted capital allocation toward acquiring nimble biotechnological startups rather than expanding in-house discovery labs. Concurrently, public universities began retaining intellectual property rights on federally funded discovery research, creating a robust secondary licensing market. Consequently, established pharmaceutical firms increasingly relied on university-derived patents for early-stage candidates, reserving their own internal resources almost exclusively for late-stage clinical trials and global distribution logistics.
Statement:
Based on the passage, the shift of internal resources in established pharmaceutical firms toward late-stage clinical trials was influenced by lengthened clinical trial durations that eroded the value of new patents.
Cevap: Cevap