I do not think the problem arises from the patenting of medications. The patent laws allow the inventor to protect the fruits of his labor and to make a reasonable profit therefrom.

The problem arises from the predatory pricing when the medication is marketed. Marketing techniques such as the pharmaceutical industry's threat to boycott Canadian pharmacies which market prescription drugs to American citizens should be investigated for anti-trust/restraint of trade. A possible re-draft of these laws to update their effect on this problem may be required. Sanctions should be invoked....perhaps the breakup of monopolies such as the AT&T breakup would be in order to foster competition...a reorganization of the FDA for its lax control of the laws it is entrusted to regulate would be a welcome change.

A more stringent and transparent reporting standard of the insurance/pharmaceutical industries' lobbying influence of legislators would certainly go a long way to remedy part of the problem. The expose of their influence on the Medicare Part B legislation as reported on 60 Minutes was an eye opener. 

Price controls for medications may be another answer. There are some industries in which the public interest against exploiting the human condition outweighs the profit incentive.