12/07/2023

U.S. Sets Policy to Seize Government-funded Drug Patents if Price Deemed Excessive

The White House is committed to reducing costs for consumers

On Thursday, the Biden administration announced it is setting new policy that will allow it to seize patents for medicines developed with government funding if it believes their prices are too high.

The policy creates a roadmap for the government's so-called march-in rights, which have never been used before. They would allow the government to grant additional licenses to third parties for products developed using federal funds if the original patent holder does not make them available to the public on reasonable terms.

White House advisers said on a press call that cost to consumers is a factor government agencies may consider when thinking of using march-in rights.

Please select this link to read the complete article from Reuters.