Kyle Bass Says So What If He Challenges Drug Patents for Profits
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Hedge fund manager Kyle Bass said he challenges drug patents for profit -- but so does everyone else.
Responding to claims by Celgene Corp. that he’s abusing a process set up to review issued patents, Bass said a profit motive is at the heart of every patent and every patent challenge. Betting on a company’s stock price falling is legal, and the public stands to gain if fewer patents stood in the way of cheap copycat medicines, he said in a filing Tuesday.