On November 09, 2016, in a result that stunned at least 47.7% of the American electorate and many observers abroad, a contentious Presidential election finally came to a conclusion, with Republican candidate Donald J. Trump defeating the Democratic challenger, Hillary Clinton. As of late Wednesday evening, The New York Times reports that Mr. Trump has secured 279 electoral votes to Secretary Clinton's 228 votes -- even though Secretary Clinton currently holds a 230,053 edge in the popular vote, with Secretary Clinton securing 59,923,027 votes (47.7%) to Mr. Trump's 59,692,974 votes (47.5%).
With Mr. Trump now set to be sworn in as the 45th President of the United States in January, supporters of both candidates have begun to wonder how a Trump Presidency might impact their lives. And readers of this space have likely focused on the possible impact of a Trump Administration on patents and innovation, as well as on the hi-tech and life sciences sectors.
With respect to patents, the Intellectual Property Owners Association reported that while Mr. Trump had been mostly silent on intellectual property law and policy on the campaign trail, the 2016 Republican Party Platform includes a section on "Intellectual Property Rights" that states:
Private property includes not only physical property such as lands and homes, but also intellectual property like books and patents. Article 1, section 8 of the Constitution gives Congress the power to safeguard intellectual property rights for "Authors and Inventors." By protecting the proprietary rights of creators and innovators, the Constitution promotes the general welfare by providing incentives for investment in all sorts of technology and artistic works. Intellectual property is a driving force in today's global economy of constant innovation. It is the wellspring of American economic growth and job creation. With the rise of the digital economy, it has become even more critical that we protect intellectual property rights and preserve freedom of contract rather than create regulatory barriers to creativity, growth, and innovation.
Protecting intellectual property is also a national security issue. We must guard against counterfeit parts that can compromise the reliability of our weapons systems and the safety of military personnel. Today, the worst offenses against intellectual property rights come from abroad, especially in China. We call for strong action by Congress and a new Republican president to enforce intellectual property laws against all infringers, whether foreign or domestic.
Earlier today, FierceBiotech reported on the immediate impact of the election on the biopharma industry, noting that the Nasdaq Biotechnology Index and S&P Biotech were up 6% and 9%, respectively, this morning. FierceBiotech also reported that European biopharma stocks had also surged by the morning after the election. According to the industry publication, many investors may be betting that Mr. Trump, and the Republican party, will not push as hard on the issue of drug pricing as Secretary Clinton would have had she won. The publication suggested that "Clinton has remained a concern for biopharma, given that she openly 'declared war' on pharma pricing last year and has, along with Democrat (and failed presidential hopeful) Sen. Bernie Sanders, shaken stocks with their tweets denouncing 'price gouging' from the industry."
Nature News reported that Mr. Trump's election win had stunned U.S. researchers. In a separate report, Nature News collected social media reaction to Mr. Trump's victory, noting that the election results had generated "shock, disbelief and fear of funding cuts" among U.S. researchers. The publication is also tracking the impact of Mr. Trump's election on science in the U.S. and beyond, asking researchers to complete a short online poll.
Scientific American received responses from the Trump campaign regarding Mr. Trump's position on several science issues, and published those responses in a report earlier today. On innovation, the Trump campaign stated that:
[T]he federal government should encourage innovation in the areas of space exploration and investment in research and development across the broad landscape of academia. Though there are increasing demands to curtail spending and to balance the federal budget, we must make the commitment to invest in science, engineering, healthcare and other areas that will make the lives of Americans better, safer and more prosperous.
And on the importance of long-term investment in research, the campaign indicated that:
[W]e must have programs such as a viable space program and institutional research that serve as incubators to innovation and the advancement of science and engineering in a number of fields. We should also bring together stakeholders and examine what the priorities ought to be for the nation. Conservation of resources and finding ways to feed the world beg our strong commitment as do dedicated investment in making the world a healthier place.
