Many times, patents are filed before an examination of the potential for commercial uptake. Patent filings can cost over US$100,000 up to US$1,000,000 for a complex case. Additionally large pharmaceutical companies spend millions of dollars each year defending patent rights through dedicated staff performing vigilant research into infringements. Universities seeking patent protection without first researching market potential may be at risk of wasting time and money on patent applications that end up providing only patent protection without the realization of licensing fees.
The Pivotal Point Group will conduct a market analysis before recommending a patent filing to include the following:
- The number of potential prescriptions in the target market
- The demographics and ability to pay in the target market
- Preliminary manufacturing approach - what dosage presentation?
- Likely distribution chain issues
- Drug stability and storage/transport needs assessment
- Likelihood of uptake
- Business planning and setting of milestones/decision tree outline