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Prize Fund for HIV/AIDS Act (view source)
Revision as of 16:56, 19 February 2016
, 16:56, 19 February 2016no edit summary
==Summary==
S. 1138[https://www.govtrack.us/congress/bills/112/s1138/text], Prize Fund for HIV/AIDS Act, was proposed by Sen. Bernie Sanders during the 112th session of Congress. The bill sought to change the current patent system for drugs treating AIDS to a prize system where the inventor would receive a lump sum payment for discovering a drug, and then void any claim on a paten for the drug. The bill died in Congress, and was re-introduced as S. 626 in the 113th Congressional session[https://www.govtrack.us/congress/bills/113/s626].
==Provisions==
*Drug companies void their right to patent a drug that treats HIV/AIDS.
*In lieu of patents, companies would receive prize funds from the Prize Fund for HIV/AIDS.
===Administrative===
*Secretary of Health and Human Services appoints a Prize Fund Director, advisory board other officials, as needed.
===Prize Fund===
*Prize Fund operates as a revolving fund.
*Secretary of Treasury credits Fund with proceeds.
*Prize Fund Director responsible for giving prizes for medical innovation drugs.
==Heterogeneity of Patent and Prize Systems==
The act nullifies patents on manufacturing processes of drugs, so that no company may hold the patent on the manufacturing process of a drug. However, a company becomes eligible for prize funds by holding a patent on the manufacturing process they use to create a drug. [Bill language: in the case of a manufacturing process for a qualifying treatment for HIV/AIDS, the holder of the patent with respect to such process]. No new firms may be eligible for prize funds if they use a manufacturing process they did not hold a patent for.
