Under a plan announced Thursday, Biden’s administration would empower the government to consider overriding the patent for high-priced drugs that have been developed with the help of taxpayer money and letting competitors make them in hopes of driving down the cost.
The Associated Press
The Biden administration is putting pharmaceutical companies on notice, warning them that if the price of certain drugs is too high, the government might cancel their patent protection and allow rivals to make their own versions.
President Joe Biden will land in Los Angeles for a wave of fund-raising on Friday, Dec. 8, with events planned with such high-profile Hollywood figures as Steven Spielberg, Barbra Streisand, Rob Reiner, Jeffrey Katzenberg and Shonda Rhimes. First Lady Jill Biden will also be in Southern California, with a schedule that includes a private fund-raiser and an appearance at Cedars Sinai Medical Center to promote women’s health awareness.
Under a plan announced Thursday, Biden’s administration would empower the government to consider overriding the patent for high-priced drugs that have been developed with the help of taxpayer money and letting competitors make them in hopes of driving down the cost.
In a 15-second video released to YouTube on Wednesday night, Biden promised the move would lower prices.
“Today, we’re taking a very important step toward ending price gouging so you don’t have to pay more for the medicine you need,” he said.
White House officials would not name drugs that might potentially be targeted. The government would consider seizing a patent if a drug is only available to a “narrow set of consumers,” according to the proposal that will be open to public comment for 60 days. Drugmakers are almost certain to challenge the plan in court if it is enacted.
