Joe Biden was on a track to leave Pharmaceuticals alone and did not want to go along with many Dems who have been in favor of seizing patents on some drugs with high costs. As you can see from this tweet below from 2020. All of that has changed since Biden has decided lowering drug costs is going to be a huge feather in his cap for reelection.
NEW: In break with Sanders and many other Dems, Joe Biden has not embraced an executive authority known as march-in rights that could be important for controlling the cost of a coronavirus vaccine. https://t.co/S2Ny82qbfv
— Sludge (@Sludge) March 17, 2020
Breaking over multiple outlets today Biden has stated he is going to rely on 'Marching Rights' to lower the high cost of drugs. The Democrats believe the Bayh-Dole Act of 1980 gives them the option to seize patents on certain drugs. We have no idea why that is even necessary when they can simply implement some caps as Former President Trump did on insulin. A cap that Biden revoked on his first week in office we might add.
The news is so new that there are not even a lot of replies to talk about at this time, but we are going to link you to several of the stories so you can read and decide what you think for yourself.
Explore how the Biden administration plans to potentially lower drug costs with the power to seize drug patents. Discover the key framework set for federal agencies to act on march-in rights. Full details here: https://t.co/ZJbUB5577X pic.twitter.com/aj8A1ot4MA
— TOP X News (@TOPXNews) December 7, 2023
Following a nine-month review, the Biden administration will issue a framework for the National Institutes of Health to implement so-called “march-in rights” under the Bayh-Dole Act of 1980.#pharma #news #research #biospacehttps://t.co/4TNzTe7oIS
— BioSpace (@biospace) December 7, 2023
Biden Agrees To Let High Prices Drive March-In Rights, Put Advocates Still Wary https://t.co/IlI0l0M4d6
— InsideHealthPolicy (@InHealthPolicy) December 7, 2023
Biden to embrace march-in rights on drug patents. https://t.co/Wvzb8lFbga #axiosvitals
— Adriel Bettelheim (@abettel) December 7, 2023
We do not think the government should have the right to march in and seize patents simply because the drug may have been developed while using federal funds. It is not going to help the consumer in the end. It may lower costs for a short time but it will decrease innovation and research into new drugs. It will also eventually have prices increase again and most likely create shortages, as the government is KNOWN for inflating prices and reducing efficiency on EVERYTHING it touches.
The government should jot be messing with free enterprise like this. It is just a backdoor effort to bring the medical industry under government control. Next will be hospital; then, doctors; then, government takeover. We are headed towards a Canadian single payer crap system.
— Tom W: Merry Christmas🎅🎄 Celt ☘️☘️🇺🇸🇺🇸 (@T94Tom) December 7, 2023
We agree with Tom. This is a step in the WRONG direction. A cap in costs or a law passed that could be bipartisan saying the USA must be charged the same as other countries for drugs could fix all of this without seizing patents. Tom is right. This is a small step toward government single-payer and as much as people try to tell you that is great, it is not. The government can not run anything WELL and healthcare is no exception.
We will keep our eyes on this issue and keep you updated. Leave your comments below on if you think this is a good move or a bad one. If we know our readers, we are pretty sure we know where you will land. (Hint: IT IS HORRIBLE!)
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