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Are patents the most efficient form of rewards for drug company? Advantages and disadvantages

Pleast follow the instructions carefully. Good structure/english  and flow is vital.

The main aim of this essay is to discuss if profiteering is justified through patents in regards to the pharmaceutical industry.

This behavioural economics so we need to make an opinion if consumers are being exploitedthrough patents or is patents helping to create incentives and in reality creating more helpful drugs.

Are pharmaceutical firms exploiting consumers because of their dependency, willingness to pay and lack of knowledge about their own condition – are they using patents as a means to profiteer.

Structure provided and notes can be used but reworded or ideas can be taken.

  • Consumers are not rational we don’t know what’s best for us regarding health and we will never know. Science is always evolving not so long ago we thought …………. Which changed to…………. (an example to show science changes so are belief of what may be true alters – cracking knuckles gives arthritis). (small introduction)

Are patents the most efficient form of rewards for drug company? Advantages and disadvantages

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