Biden Urged to Withdraw Unprecedented Seizure of Drug Patents

Blogger Comment: Because Biden is fully in bed with the giant pharmaceutical corporations and his massive secret deals with them during Covid-19 clearly showed this with the hundreds of billions in us taxpayer's dollars shipped to these vast organizations with little checking on price and where this is just another way to give these criminal organizations even more US dollars, as history has a knack of repeating itself and I do not think that Biden will change his spots one bit here and how he treats people with big money and just another way to 'bleed' the American people of their dollars and wealth...but of course enhancing his own bank balance in the process...indeed it has been proved time and time again that these giant corporations only believe in one thing....profits and not our health for one minute which people think and where the multi-billion corruption fines that are never-ending...speak miles of their sole intent...

"Global Pharmaceutical Giants have made Criminal Activity legal and the vast US multi-billion dollar Corruption Fines just a part of their Drug Costs"

https://worldinnovationfoundation.blogspot.com/2013/12/global-pharmaceutical-giants-have-made.html

Democrat President Joe Biden is being warned to withdraw an unprecedented regulation for the seizure of drug patents.

The regulation would allow the government to seize patents for prescription drugs that aren’t “reasonably” priced.

Biden wants to use a 1980 law, the Bayh-Dole Act, that lets the government “march in” and relicense patents for inventions that are developed with federal tax dollars.

Until Biden, this power has never been used.

A staffer who helped pass the law back in the 1980s urged Biden to pull back in a sharply worded letter for the Bayh-Dole Coalition.

Joseph Allen, the group’s executive director and former Senate Judiciary Committee staffer to Senator Birch Bayh (D-IN), said Biden’s gambit “violates both the letter and spirit of the Bayh-Dole Act and would cause untold harm to American companies, workers, and consumers if implemented.”

He warned that Biden’s reform would stifle innovation, without lowering drug prices.

Allen also noted that Biden, as a senator, opposed efforts to include price controls in the 1980 law.

“Ironically, even the draft framework implicitly acknowledges that misusing the march-in provision for price controls will have little, if any, impact on lowering drug costs – the purported reason for this exercise,” said the letter.

The Bayh-Dole Act allows government contractors to own inventions that are developed with tax dollars, which includes over 99% of prescription drugs.

The law includes a provision – which has never been used until Biden – that allows the government to “march in” and relicense an invention if “good-faith efforts aren’t being made to commercialize the research,” according to pharmaceutical trade group PhRMA.

Biden’s critics say the Bayh-Dole Act was never meant to set price controls.

Republican Senator Thom Tillis (R-NC) said:

“The threat that government agencies will ‘march in’ and seize patents if prices exceed a vague and undefined threshold undermines the certainty that innovators need to make investments and bring complicated new technologies to market.”

President Donald Trump’s administration proposed a rule that would bar the government from using price as a reason to “march in.”

Biden scrapped it, however.

In a 2002 Washington Post piece, the late Senators Bob Dole and Birch Bayh noted the law “makes no reference to a reasonable price that should be dictated by the government.”

Of course, Congress’s intent has never deterred Biden from making creative use of the law to push his radical, draconian agenda.

Biden did the same thing with his sweeping student loan plan, which was ultimately curtailed by the Supreme Court.

Follow the Link for the Article... Biden Urged to Withdraw Unprecedented Seizure of Drug Patents