Biden administration asserts power to seize drug patents in move to slash high prices

Posted on AllSides December 7th, 2023
From The Center
Kevin Lamarque | Reuters

The Biden administration on Thursday opened the door to seizing the patents of certain costly medications from drugmakers 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 take patents for drugs developed with taxpayer funds and share them with other pharmaceutical companies if the public cannot “reasonably” access the medications. Doing so could lead to the development of lower-priced generic...

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

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