If a drug is too expensive, the Biden administration will use federal law to grant patent licenses to rival pharma companies<\/p>\n<\/h3>\n
By Physician\u2019s Briefing Staff HealthDay Reporter<\/b><\/p>\n
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THURSDAY, Dec. 7, 2023 (HealthDay News) — In a push for lower drug prices, the Biden administration is warning pharmaceutical companies that it might use its authority to cancel patent protections if a medication is too expensive. Federal law allows the government to grant patent licenses if taxpayer dollars were used in the development of inventions — including drugs.<\/p>\n
In a statement<\/a> released Thursday, the White House said it will consider granting patents to rival pharmaceutical companies if a drug becomes prohibitively expensive. It is the first time that federal officials have been allowed to consider a drug’s price in deciding to break patent protection.<\/p>\n “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 National Economic Adviser Lael Brainard said during a call with reporters on Wednesday, CNBC<\/em> reported.<\/p>\n This power over patents, called “march-in rights,” was established under the Bayh-Dole Act of 1980 but has never been exercised by any federal agency, administration officials told CNBC<\/em>.<\/p>\n President Joe Biden promised that the move will lower drug prices for average Americans. “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,” Biden said in a brief YouTube video released Wednesday.<\/p>\n There will be a 60-day public comment period on the administration’s plan, which is certain to be challenged by drugmakers.<\/p>\n