Insulin had key role in patent history
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Today, universities aren't shy about making money off their research. It's become a point of pride that ivory tower ingenuity can lead to important - and valuable - real-world technologies, drugs or spinoff companies.
In March, for example, the University of California at Los Angeles sent out a news release announcing that it had sold its royalty interest in Xtandi, an expensive prostate-cancer medication, to a company for $1.14 billion. More than 6,300 U.S. patents related to university research were issued in 2014, according to the Association of University Technology Managers, resulting in 965 new products and $28 billion in net product sales...