And when Big Pharma can't extend its patents further, it buys out its competitors. There were dozens of pharmaceutical manufacturers 10 years ago. Now there are only a handful. And that handful is committed to buying out any generic competitors. This is why some drugs that have been around for a decade or more still are priced 10-1,000 times the actual cost of production. There simply is no competition.
IP "protection" is one of the biggest con-games around. It works directly against both innovation and competition.