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.
Technically no other country has M4A. All of them have supplemental private insurance, and the current M4A policy completely abolishes all of it.
I’m in favor of universal healthcare for essentials and allowing private insurance for supplementals, to start with. The ultimate goal would be to phase out insurance completely, but it’s unwise to jump ahead to it immediately since there currently aren’t any systems that do so and we have no experience nor data.