Lopid Patent Term Extension and Fairness Act of 1987

Lopid Patent Term Extension and Fairness Act of 1987 - Amends the patent laws to extend for five years the patent term of a new drug if certain conditions are met, including: (1) that the new drug has been subjected to a regulatory review by the Federal Food and Drug Administration (FDA); (2) the completion of a specified clinical study; and (3) that the FDA has either approved a supplemental new drug application or the original patent term is within 90 days of expiration and the FDA has not made a final determination. Requires the Commissioner of Patents and Trademarks to issue a certificate of extension which will terminate if the supplemental new drug application is disapproved.