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.
Drugmakers have argued that seizing the patent for a medication makes that treatment vulnerable to competition, which can reduce a company’s revenue and limit how much it can reinvest into drug development.
Or yknow, maybe spend a few billion less on marketing and TV commercials?
There would be a good governmental oversight: drug companies may no longer advertise their products to the public. I don’t think anyone has ever seen a drug commercial in a positive light; if the drug was effective and worked well you wouldn’t need to advertise it.
I’m probably going to get downvoted for this, but the Biden administration has really exceeded my expectations.
They do great work, but they don’t market and promote their successes well enough. I would prefer a society that favors humility more and therefore appreciate this administration’s style, but it seems that a lack of hubris is now considered a fault in the public eye, on both sides of the aisle.
I would like an administration whose flamboyant about their successes so I know what to expect in my daily life when it comes to politics aka why I see more EVs (rebates funding and a federal charging grid), lower/higher prices on things (like Biden removing patents to create competition) and even insurrectionists going to jail (if we had a working justice system)!
It really annoys me when they Biden has done nothing.
Then they’re all, “well I didn’t hear about it”
I get that the media and even the Dems suck at showing people what they’ve accomplished, but that doesn’t mean they’ve done nothing.
This isn’t an action. This is words. Words are wind.
Wake me up when any of this shit is actually implemented.
This is already something though. It’s a legal threat.
We will only see patents actually be seized if the drug companies don’t play ball. They’ll have to choose whether to cooperate or to challenge this in the courts. The govdrnment isn’t trying to seize patents anymore than banks are hoping to repossess property.
I’ll give credit when things have changed a single smidge.
Yes it seems like most of these actions are symbolic gestures that never pan out into actual change. Like asking for marijuana to be ‘studied’ to see if it belongs as Schedule 1 with no medical value while 38 states have approved it for medical use and 24 states have legalized it for recreational use. What the fuck is left to study at this point?
Another example is him pardoning people with federal marijuana possession convictions even though nobody was actually incarcerated for simple possession in the federal prison system.
Seems this shit is all about generating headlines and political brownie points not actually improving anything in our day to day lives.
You get it. I wish the rest of these Lemmys did, too.
No disagreements here. I am kind of shocked by this very non neolib behavior—the above as well as well as being the first sitting president to join the UAW picket line. I was a bit miffed about the train strike, though. But his administration lobbied the companies and got them their sick days they’ve been fighting for, for ages. Really didn’t expect any of that.
Non neolib? Introducing competition rather than seizing and making them public is about as neolib as you can get.
So by letting a company keep their monopoly due to federally subsidized patent thus harming citizens but helping the company is… less neolib?
Whatever it is, it seems shittier than making a move to fuck a company – if it results in reduced drug prices anyway.
Where did I say they should be allowed to keep their monopoly?
Anything but
metricuniversal healthcare.“Best we can offer is a Republican created plan to offer insurance outside of employment and an additional tax if you don’t/can’t participate in it.” ~Democrats
Best we can do is… [check notes]…
Fine you.
