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 powers.

“When drug companies won’t sell taxpayer-funded drugs at reasonable prices, we will be prepared to allow other companies to provide those drugs for less,” White House National Economic Advisor Lael Brainard said during a call with reporters Wednesday.

  • MajorHavoc@lemmy.world
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    1 year ago

    Now that’s collective bargaining. If they can’t compete in fair and reasonable ways, it’s time to Whitehouse their asses.

    And the pharma execs should really take this deal and be thankful. Historically, he one that gets ordered next is… murder-y, frankly.