cross-posted from: https://midwest.social/post/6252553
Dec 7 (Reuters) - The Biden Administration on Thursday announced it is setting new policy that will allow it to seize patents for medicines developed with government funding if it believes their prices are too high.
The policy creates a roadmap for the government’s so-called march-in rights, which have never been used before. They would allow the government to grant additional licenses to third parties for products developed using federal funds if the original patent holder does not make them available to the public on reasonable terms.
White House advisers said on a press call that cost to consumers is a factor government agencies may consider when thinking of using march-in rights.
“We’ll make it clear that 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 adviser Lael Brainard said on the call.
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Long overdue, for sure, considering we effectively paid for the drug to be made.
I wonder what standard will be used to determine if the price is too high. From the article, it says
But I don’t have faith the government will do enough. The oversight over this just doesn’t feel like it will be enforced as much as it should.