Senate HELP Committee proposes evaluation of Innovation Inducement Prizes, as alternative to product monopolies

In the United States Senate, the Committee on Health, Education, Labor and Pensions (HELP) is trying to move forward a bill titled the “Food and Drug Administration Safety and Innovation Act.” Among other things, the bill would “amend the Federal Food, Drug, and Cosmetic Act to revise and extend the user-fee programs for prescription drugs and medical devices, establish user-fee programs for generic drugs and biosimilars,” and address a number of other topics, such as extend the legal monopoly on antibiotic drugs by 5 years. Continue Reading

KEI Technical Meeting to Discuss Innovation Inducement Prizes, June 3, 2011

There is a growing interest in the use of innovation inducement prizes to stimulate investments in medical research and development.

  • The Obama Administration and the European Commission are exploring the role of innovation inducement prizes.
  • On May 31, 2011, the European Parliament is holding one of several meetings on innovation inducement prizes for medical technologies.
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The Energy Independence and Security Act of 2007 Innovation Inducement Prizes

On December 19, 2007, the The Energy Independence and Security Act of 2007 was enacted as Public Law 110-140. The Act created two new innovation inducement prizes to stimulate innovation in the field of energy:

  • The H-Prize, which is designed to advance the research, development, demonstration, and commercial application of hydrogen energy technologies.
  • The Bright Tomorrow Lighting Prizes, which deal with energy efficient solid state lighting.

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The baffling WHO EWG analysis of innovation inducement prizes

The World Health Organization (WHO) Executive Board will soon consider the Executive Summary of the Report of the Expert Working Group on Research and Development Financing, a document, formally identified as EB 126/6 Add.1.

In the section of the report on “Funding allocation proposals,” the EWG considers two types of innovation inducement prizes, including

31 (c) milestone prizes; and
31 (d) end-prizes (cash)

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