Generic Orthopedic Implants' Time Has Come
Orthopedic implants in the United States represent a $20 billion per  year industry. Seventy-five percent of the orthopedic implant industry  consists of devices that are expired or soon to be expired IP  (intellectual property). Typically, when a device has expired IP,  manufacturers or their competitors begin to sell it as a value  proposition. The reason we allow a company to have patent protection is  to reward them for their innovation for a period of time. The orthopedic  industry has been successful in never allowing their implants to behave  in a normal market pattern. They always have been able to charge full  price without letting normal market efficiencies take effect.     The industry points out that they have to pay for R&D and regulatory  approvals for their products and so higher prices are necessary to  support these ever-increasing expenses. Pharma companies spend about 20  percent of revenues on R&D. Hip and knee companies spend 6 percent.  Every drug that...