Large pharmaceutical companies have continually engaged in the strategic accumulation of patents to restrict patient access to more affordable drugs by delaying the entry of generic options into the market. While some of the additional patents represent true incremental innovation, many are deployed strategically to preserve a company's monopoly rights on the original discovery. All in all, the tactics used are not new or useful, they are simply a way for Big Pharma to maintain their drug monopolies and continue charging American consumers more for drugs than they could if they had competition in the market.
Bristol Myers Squibb manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders.
According to Wikipedia The Big Pharma conspiracy theory is a group of conspiracy theories that claim that the medical community in general and pharmaceutical companies in particular, especially large corporations, operate for sinister purposes and against the public good, and that they allegedly cause and worsen a wide range of diseases.
However the article does seem to favour the view that it is just a conspiracy.The then leadership candidate, who worked as a drug company lobbyist before being elected to parliament, spoke in a parliamentary debate about epilepsy in 2010, warning that the government should be careful about “generic substitution of drugs” in treating that condition or in any other market in medicine.
Smith worked for Amgen as its chief lobbyist in the UK for two years before becoming MP for Pontypridd. Before that he was a lobbyist for US drug firm Pfizer from 2005.
“We must be careful about generic substitution of epilepsy drugs. I know that many sufferers agree with that. Another point is that genericisation of a market in medicines leads to changes in the economic incentives for research and development companies to produce them. There clearly are not incentives for companies to produce new epilepsy drugs,” Smith said in the debate in October 2010.
Mr Smith also argued for the interests of big pharma while an MP. In a parliamentary debate in 2010 he warned that the government must be “careful” about advocating for certain generic drugs, which are used to save the NHS money.