A bill to amend the Patent Act to limit the patent period for new drugs has passed the plenary session of the National Assembly. The amendment will limit the upper limit of the remaining patent term to a maximum of 14 years from the time a new drug is approved and allow only one of several patents registered for a single drug to be extended.

The pharmaceutical industry has expressed both excitement and concern. Multinational pharmaceutical companies that own a large number of original drugs are worried that their patent life will be shortened. Domestic pharmaceutical companies, on the other hand, are generally excited about the prospect of being able to launch generics sooner.

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