How Patent Trolls Sparked a Failed Assault on High Drug Prices
Kyle Bass caused high anxiety for Big Pharma.
Kyle Bass.
Photographer: Kholood Eid/BloombergThis article is for subscribers only.
Hedge fund manager Kyle Bass appears to be wrapping up a generally unsuccessful patent-law assault on drug manufacturers. “In the end, lobbying and special interests pay,” Bass told Bloomberg in a defeatist-sounding email. “Medicare and U.S. consumers pay the ultimate price for the evergreening of bad patents by the pharma cabal.”
As Bass retreats, it’s worth pausing to assess why his offensive, begun in early 2015, caused high anxiety in the drug industry.