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Patents are granted for 20 years in Australia,but pharmaceutical companies can't use their patent-guaranteed monopoly powers for anywhere near this

Patents are granted for 20 years in Australia,but pharmaceutical companies can't use their patent-guaranteed monopoly powers for anywhere near this long because it take several years to acquire approval of drugs.Should the lie of drug patents be extended to 20 years after the approval?What would be the costs and benefits of this extension?

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