Edwards on Pharmaceutical Patents

John Edwards proposes what will surely be a controversial idea:

Edwards’ plan would remove long-term patents for companies that develop breakthrough drugs and then reap large profits because of the monopolies those patents provide, according to a statement by Edwards obtained Wednesday evening.

This article discusses other aspects of the Edwards health care proposals. But something tells me that the economist blogs will focus on this aspect. Ending monopolies may sound good but we will surely that fans of the patent system asking about the incentives to do research on new drugs.