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.
Under the draft roadmap, seen by Reuters, the government will consider factors including whether only a narrow set of patients can afford the drug, and whether drugmakers are exploiting a health or safety issue by hiking prices.
“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 a press call.
What would incentivise researching new drugs when all competitors could just copy it, reaping the benefits without cost.
They’re paid by the gov to research already, thats the incentive
All drug development is paid fully by government?
Subsidized generally.
It follows a similar model as military R&D. They request money and have no real obligation to deliver a functioning or viable final product.
And even if it wasnt, a substantial amount IS funded by the gov, enough to have progress made without capitalist vultures reaping exorbitant profits off of the misery of the proletariat