Proprietary Drug (Noun)
Meaning
A drug that has a trade name and is protected by a patent (can be produced and sold only by the company holding the patent).
Classification
Nouns denoting man-made objects.
Examples
- The pharmaceutical company spent years developing its new proprietary drug, which would treat a rare disease affecting millions worldwide.
- The doctor could only prescribe the proprietary drug after it was approved by the relevant health authorities.
- Manufacturing of the proprietary drug was restricted to licensed facilities as per the terms of the patent agreement.
- Competition in the pharmaceutical market kept the prices of proprietary drugs too high for many consumers to afford.
- When the patent on the proprietary drug expires, generic versions of the medication can be produced by other companies.