The Biden administration is putting pharmaceutical companies on notice. Washington is 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.

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.

  • Ranvier@sopuli.xyz
    25·
    11 months ago

    That’s what they’re doing! They are announcing a new executive department regulation about implementation of a specific law. You have to propose the regulation first. A public comment period and other mandatory things have to follow. The regulation they’re proposing is that they will also consider high drug prices and gouging by pharmaceuticals in their decision making on whether to over ride patent rights. Previously this was not a regulation, so they can not do it right now. Once the regulation is in place, then they can start taking specific actions on drug companies. If they just start doing shit willy nilly without going through the process of new regulations, it’ll just get struck down by the courts in a nanosecond. That’s why a lot of the dumb horrible crap trump tried to do got struck down well before Biden even took office.