Douglas Steinberg | Mar 5, 2000 | 8 min read
Like medieval alchemists, modern biologists apply intricate, esoteric protocols to lowly matter, such as bacteria and rodents. Unlike alchemists, biologists successfully transmute these creatures into gold--disease-fighting pharmaceuticals and profits accruing from them. An indispensable ingredient in this dross-to-drug process is patent protection, which preserves monopoly and attracts investment. Unfortunately, the patent system isn't as ideal a catalyst as the chimerical philosopher's stone s