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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Why do things developed with government funds not already belong to the government?
Because the capitalist class run the government, and they want to socialize the costs and privatize the profits.
This should be expanded through eminent domain power to include all drugs, not just those developed with federal funds.
I will be shocked if this is ever used for the benefit of non-pharmacuetical entities.
