The Biden administration on Thursday asserted its authority to seize the patents of certain costly medications in a new push to slash high drug prices and promote more pharmaceutical competition.

The administration unveiled a framework outlining the factors federal agencies should consider in deciding whether to use a controversial policy, known as march-in rights, to break the patents of drugs that were developed with federal funds but are not widely accessible to the public. For the first time, officials can now factor in a medication’s price — a change that could have big implications for drugmakers depending on how the government uses the powers.

“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 National Economic Advisor Lael Brainard said during a call with reporters Wednesday.

  • @RainfallSonata
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    -71 year ago

    Non neolib? Introducing competition rather than seizing and making them public is about as neolib as you can get.

    • @agent_flounder
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      111 year ago

      So by letting a company keep their monopoly due to federally subsidized patent thus harming citizens but helping the company is… less neolib?

      Whatever it is, it seems shittier than making a move to fuck a company – if it results in reduced drug prices anyway.

      • @RainfallSonata
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        -11 year ago

        Where did I say they should be allowed to keep their monopoly?

      • @SCB
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        -51 year ago

        So by letting a company keep their monopoly due to federally subsidized patent thus harming citizens but helping the company is… less neolib?

        Yes. Monopolization is one of the many externalities that government exists to address within a neoliberal framework

    • @SCB
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      -101 year ago

      Neoliberalism is a good thing, actually.

      • @Zoboomafoo
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        -41 year ago

        Why would you say something so controversial yet so brave?

        • @SCB
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          1 year ago

          It’s only controversial if your only understanding of economic orthodoxy is Breadtube or some shit lol