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Simple English definitions for legal terms

Drug Price Competition and Patent Term Restoration Act of 1984

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A quick definition of Drug Price Competition and Patent Term Restoration Act of 1984:

The Drug Price Competition and Patent Term Restoration Act of 1984, also known as the Hatch-Waxman Act, is a law that was passed to encourage the development of generic drugs and to protect the rights of pharmaceutical companies that develop new drugs. The law allows generic drug manufacturers to use the same active ingredients as brand-name drugs, but they must prove that their product is equivalent to the original drug. The law also provides patent extensions for brand-name drugs to compensate for the time it takes to get FDA approval, and it allows generic drug manufacturers to challenge the validity of these patents. This law has helped to make prescription drugs more affordable for consumers and has increased competition in the pharmaceutical industry.

A more thorough explanation:

The Drug Price Competition and Patent Term Restoration Act of 1984, also known as the Hatch-Waxman Act, is a law that was passed by the United States Congress to encourage the development of generic drugs and to protect the interests of pharmaceutical companies.

Under this law, generic drug manufacturers can apply for approval of their products by demonstrating that they are equivalent to a brand-name drug that is already on the market. This process is known as the Abbreviated New Drug Application (ANDA) process.

The Hatch-Waxman Act also provides a mechanism for pharmaceutical companies to extend the patent life of their drugs. This is done by allowing them to apply for a patent term extension, which can add up to five years to the life of a patent.

For example, if a pharmaceutical company has a patent on a drug that is set to expire in three years, they can apply for a patent term extension that would add an additional two years to the life of the patent. This would give the company a total of five years of exclusive rights to sell the drug.

The Hatch-Waxman Act has been credited with increasing competition in the pharmaceutical industry and making drugs more affordable for consumers. By allowing generic drug manufacturers to enter the market more easily, the Act has helped to drive down the cost of prescription drugs.

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Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
babycat
12:59
I heard if you apply YM at Brooklyn specifically it’s the equivalent of like a 5 LSAT point boost
HopefullyInLawSchool
13:00
^^^^This
13:00
does anyone have any information on lsu? I have only heard of 1 person getting a decision and its driving me insane
HopefullyInLawSchool
13:01
Just info on their YM applications but nothing else
HopefullyInLawSchool
13:02
@BeFree03:
13:04
yeah thats all i am seeing as well. i have literally looked everywhere trying to find at least a time of day for decisions but theres nothing
CuriousPanda2362
13:04
I feel like it’s the calm before the storm
CuriousPanda2362
13:05
Big movement are bound to happen soon but it’s so eerily quiet
HopefullyInLawSchool
13:05
^^^^Me taking a dookie
CuriousPanda2362
13:05
Lmao
babycat
13:06
Ehh I think schools will prob release information on their YM applicants first before they even get to RD
babycat
13:06
I wouldn’t expect RD applicants to hear anything until after Thanksgiving bc they prioritize YM so heavily
HopefullyInLawSchool
13:06
I heard theyll do that at LSU but not 100% sure
2big2fail
13:09
berkeley status checker is so funny
13:11
berk today will be Huge if it happens
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