Archive for Drug Patents

Kyle Pass Is Trying To Kill Zombie Patents

A headshot won’t kill a zombie patent; that requires a court. Kyle Bass understands the battle though, and has set his organization–called The Coalition for Affordable Drugs–into motion against such un-dead legalisms.

Zombie patents shouldn’t still persist, but The New York Times says they do because big-ticket corporations like pharmaceutical companies know they can maximize profit through them. The zombie patents Kyle Bass is trying to undo are on a speckled pill and a generic rubber stopper. Neither the stopper nor the speckling have any function in helping a patient to heal. But there are patents on them anyhow, and this allows a price hike which makes the medicines ten times more expensive than they should be. This takes needed money from afflicted individuals’ pockets, so there’s a good case to be made here. That’s why Bass has used his organization to obtain signatures on a petition. He knows he has a high likelihood of accomplishing his aims.

Bass knows financial markets. In 2008 he came on the scene explosively, albeit controversially. Bass knew America would experience financial crisis that year because he’d been watching the market. He said as much far in advance and on a national platform. His predictions were correct, and so a name was made. Currently a hedge-fund manager in Texas, Bass keeps himself busy with a ubiquity of like-minded enterprises geared at making money from loss on a large scale. He again was successful in his prediction of a Japanese market kerfuffle, and has had his eyes on China for quite some time; noting that they spend in excess of their GDP, and reality stipulates the one must catch up to the other eventually.

Kyle Bass is also sneaky in his endeavors; or at least that’s how some would describe him. Consider this. Recently, Kyle Bass used the Coalition for Affordable Drugs to decrease the price on certain medications from several large pharmaceutical companies with which he had stock. Bass then short sold all his stock and made a great amount of money for it. The thing is, his organization was the impetus behind the drop in stock which he foresaw. It’s like if you could take out an insurance policy, burn down your house, and then collect the money–and that be a legal thing. For this reason, American congress has jumped onto the issue, and is working to quickly resolve it–though no solution has yet been derived.

Wikipedia shows that Bass is also connected with Cristina Fernandez de Kirchner, leader of Argentina and a well-known socialist. Is Bass working to destabilize economies through decreasing corporate profit, and thus induce socialist economic practices? Well, it’s hard to tell. What is absolutely certain is that the man knows what he is doing, and in financial terms is exceptionally successful.