There are numerous benefits of intellectual property for R&D intensive industries. While all forms of intellectual property are important to promote biopharmaceutical innovation, patent protection is most critical. The limited period of patent protection provides an incentive to innovate and invest in risky technologies to meet unmet medical need, and to create new medicines that would otherwise not exist. Patent disclosures teach the world about these critical innovations, spurring further research by third parties to compete and create the next generation of therapies. The existence of patent protection further supports small institutions and companies, permitting robust licensing of external innovation from start-ups and academic institutions. And meaningful patent protection prevents other innovators, as well as generic and biosimilar companies, from prematurely appropriating innovative technologies and undermining R&D investment. Ultimately, patent protection around biopharmaceutical products expires, providing robust competition building on the innovator’s contribution to patients.

We seek intellectual property to protect our innovations in significant global markets, while remaining focused on our mission to benefit patients. This is the lens that directs our approach to intellectual property. For example, we ensure that our medicines are available globally, using third-party relationships and appropriate IP licensing to broaden access in key areas. Through intellectual property, BMS is able to drive innovation and access to new medicines, improving healthcare throughout the world.