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.

Under a plan announced Thursday, the government would 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, President Joe 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.

  • orbitz@lemmy.ca
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    1 year ago

    The only argument I can see is maybe if the grant (whatever it is called) only covers for partial, so like if the government adds in $10k, then that shouldn’t be the same as them funding the whole thing (this number is not exact I got no idea on true amounts). So some leeway but they shouldn’t get a full patent if taxpayers money is used on it for sure.

    Though then you’ll get some creative accounting to show the government spent less percentage than thought and all that so it sucks but something needs to make sure taxpayers get what they paid for.