Targeting costly meds, Biden admin asserts authority to seize certain drug patents
Source: Politico
The Biden administration has determined that it has the authority to seize the patents of certain high-priced medicines, a move that could open the door to a more aggressive federal campaign to slash drug prices.
The determination, which was described by three people familiar with the matter, represents the culmination of a nearly nine-month review of the government’s so-called march-in rights. Progressives have long insisted that those rights empower the administration to break the patents of pricey drugs that were developed with public funds, in an effort to create more competition and lower prices.
The administration will not endorse the widespread use of march-in rights, and is not expected to take action against any individual medicines, said the people familiar with the matter, who were granted anonymity to discuss internal decision making.
Instead, the Commerce Department on Thursday plans to issue a new framework spelling out factors that federal agencies should weigh in determining whether to take march-in action against expensive drugs or other individual products that were created with federal help. The price and availability of that product to the public are among the factors the department will recommend that agencies consider.
Read more: https://www.politico.com/news/2023/12/06/biden-admin-authority-seize-certain-drug-patents-00130452
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A wise and measured approach. But I can hear the howls of the RW outrage merchants now.
