Aussie Biotech Says Millions In Royalties Lost To Medical Institutions
This article was originally published in PharmAsia News
The Australian biotech Genetic Technologies says publicly funded institutions are violating its patents to the tune of about $12.6 million a year. The company objected to the alleged violations as a Senate panel considered barring patents on genetic intellectual property. Paul MacLeman, CEO of Genetic, which specializes in testing DNA, said the medical institutions screen for breast cancer at commercial rates, but pay no royalties to the owner of the patents for those tests. When Genetic sought to enforce its patents last year, it had to back off after a public outcry. (Click here for more
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