Generate text that refutes this claim: Robust drug patent laws incentivize investment of time and money in developing new products  When a real chance of profit exists in the development of a new product or drug, people and firms put the effort into developing and creating them. The incentive to profit drives a great deal of people's intellectual endeavors. Research and development, for example, forms a major part of industries' investment, as they seek to create new products and inventions that will benefit consumers, and thus society as a whole. Research and development is extremely costly, however. The US pharmaceutical industry alone spends tens of billions of dollars every year on researching new drugs1. The fear of theft, or of lack of profit stemming from such research, will serve as a powerful disincentive to investment. Without the protection of patents, new drugs lose much of their value, since a second-comer on the field can simply take the formula and develop the same product without the heavy costs of research involved, leaving the innovative company worse off than its copycat competitor. This will lead to far less innovation, and will hamper companies currently geared toward innovative and progressive products. Patent protection is particularly important to companies with high fixed costs and low marginal costs, such as pharmaceutical firms. Without the guarantee of ownership over intellectual products, the incentive to invest in their development is diminished as they will not be guaranteed a payback for their research costs as a competitor could simply take the product off them. Within a robust patents system, firms compete to produce the best product for patenting and licensing that will give them a higher market share and allow them to reap high profits. These incentives lead firms to "invent around" one another's patents, leading to gradual improvements in drugs and treatments, benefiting all consumers2. Without patents the drugs companies are trapped in a kind of prisoners' dilemma where both are individually better off by refusing to innovate, yet both suffer if neither innovates. Patents are the solution to this: if a company innovates, it alone can reap the rewards of the new invention3. In the absence of patent protection there is no incentive to develop new drugs, meaning in the long run more people will suffer from diseases and ailments that might have been cured were it profitable to invest in developing them. Clearly, patent protection is essential for a dynamic, progressive pharmaceutical industry.  1 Congressional Budget Office. 2006. Research and Development in the Pharmaceutical Industry". The Congress of the United States. Available: 2 Nicol, Dianne and Jane Nielsen. 2003. "Patents and Medical Biotechnology: Empirical Analysis of Issues Facing the Australian Industry". Center for Law and Genetics Occasional Paper 6. Available: 3 Yale Law &amp; Technology. 2011, "Patents: Essential, if flawed", Available:
disease health general house would allow production generic drugs
Research and development will continue, irrespective of intellectual property rights. The desire of firms to stay ahead of the competition will drive them to invest in research regardless. That their profits will be diminished by the removal of intellectual property rights is only natural and due to the fact that they will no longer have monopoly control over their intangible assets, and will thus not be able to engage in the rent-seeking behavior inherent in monopoly control of products. The costs of commercialization, which include building factories, developing markets, etc., are often much higher than the costs of the initial conception of an idea1 these are areas where competition will force down costs. Furthermore, there will always be demand for a brand name over a generic product. In this way the initial producer can still profit more than generic producers, if not at monopolistic levels.  1Markey, Justice Howard. 1975. Special Problems in Patent Cases, 66 F.R.D. 529.