Founder of the Hedge Fund, Hayman Capital Management, has made news by creating a case against pharmaceutical patents. This founder’s name is Kyle Bass and has made a fortune by correctly guessing the 2008 financial crisis that revolved around the real estate. His big bet against the subprime mortgages has earned him the title of being a genius. With his newly found fortune, Mr. Bass has now declared war against the exploitation of pharmaceutical patents. Mr. Bass believes that with patents, pharmaceutical drugs are more expensive and will increase in prices despite the overall quality of the pharmaceutical drug. The patents, according to Kyle Bass, keep the prices of pharmaceutical drugs high despite the high demand for some of them.
Mr. Bass has considered pharmaceutical patents to be both weak and abusive to the public. In mid-November of 2015, Mr. Bass has reportedly filed around 33 requests for patent reviews that are targeting 13 different drugs from 12 different companies. Mr. Bass and his associate, Mr. Spangenberg are noted experts when it comes to patents. Both men buy stock in the patents that are considered to them to be innovative and useful to the world.
Mr. Bass and his associate have criticized pharmaceutical companies for making drugs too expensive. Mr. Bass has the knowledge that one a pharmaceutical drug is freed from a patent, the prices of any generic drug will decrease, especially has demand increases. Mr. Bass sees the irony behind a pharmaceutical drug that was designed to improve the lives of people, moaning about the decreasing prices that will occur with the loss of the patent. The mission of Mr. Bass and his associate is to bring down the artificially high prices in order to make the drugs more readily available to the public. In addition to this, both men believe it to be unfair that non-innovative pharmaceutical companies can profit so highly off of a generic drug.
Kyle Bass is an expert within this field as he has been noted to be a genius within the hedge fund and investment industry. His Dallas-based hedge fund was founded in 2006 and met true success when he correctly guessed the financial crisis of 2008. Ever since that notable event, Mr. Bass has been the one to turn to when people are in need of investment advice. Although there have been some pretty major critics of his techniques, and one of the best analysis pieces on the subject was from UsefulStooges.
Mr. Bass’ extensive knowledge within the investment industry makes him the number one opponent to the pharmaceutical companies that which he believes are overpricing generic drugs despite the demand. With that said, he and his associate have began non-profit campaigns to fight for this injustice to make more and more pharmaceutical drugs more readily available to the public at a less expensive rate.