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@Chalfie
Having worked in ip for science in a us university,my impression was that everything got patented in the early days because of fear of missing out. Also, genes being patented was a proper blind alley. Patenting the sequence in the hope of protecting a receptor for study so you could get a drug?
Patent lifetime is 25 years, time for a drug to market is approx the same. All being well the drug should be through all clinical trials with approx 5 years left on the patent to make money back.
When it comes off parent protection though, the silly games to extend and protect are a bit meh and my personal opinion is that the price should go down.
I could waffle on but I'll stop.