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(2,386 posts)
Thu Dec 7, 2023, 09:12 AM Dec 7

Biden administration asserts power to seize drug patents in move to slash high prices [View all]

This discussion thread was locked as off-topic by Omaha Steve (a host of the Latest Breaking News forum).

Source: CNBC

The Biden administration on Thursday asserted its authority to seize the patents of certain costly medications in a new push to slash high drug prices and promote more pharmaceutical competition.

The administration unveiled a framework outlining the factors federal agencies should consider in deciding whether to use a controversial policy, known as march-in rights, to break the patents of drugs that were developed with federal funds but are not widely accessible to the public. For the first time, officials can now factor in a medication’s price — a change that could have big implications for drugmakers depending on how the government uses the power

Read more: https://www.cnbc.com/2023/12/07/biden-administration-asserts-power-to-seize-drug-patents.html

its about time. if the government helps fund teh research for a drug then the drug companies have no right to charge insane prices
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