Michael Bloomberg’s radical plan to cut prescription drug costs

Earlier this week, Bloomberg suggested proposed upending the number of patents a therapy can benefit from as a way to slash the cost of prescription drugs. In fact, Bloomberg’s proposal would restrict new brand name medications to just one patent.

That would limit companies to one 20-year patent period for new branded pharmaceuticals. Right now they can also extend their market dominance by establishing follow-on patents, a process dubbed “evergreening.” Bloomberg’s proposal would take a buzzsaw to that process.

Pharmaceutical companies regularly use patents—including “patent thickets”—to protect their cash cows. For instance, companies commonly seek new patents to iron out wrinkles in a manufacturing procedure for a drug, or tweaks to dosages and delivery mechanisms for a treatment. Along the way? The evergreening thwarts competition from cheaper generic rivals .

There could, however, be other ways to achieve the same goal. For instance, a drug’s initial patent might dictate when generic competitors are allowed on the market (without discounting follow-on patents for ensuing innovations).

And Bloomberg isn’t the only Democratic candidate challenging the drug industry. Sens. Elizabeth Warren and Bernie Sanders, as well as other presidential hopefuls, have endorsed a range of drug pricing reforms spanning the gamut from direct Medicare price negotiations to upending the current biopharma IP system.

A recent Morning Consult poll has Bloomberg surging to 12% support nationally. He’s still a long-shot for the Democratic nomination—but proposals like this from a billionaire could shape the conversation udring the primary stretch.

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