Biden Threatens To Cancel Pharma Patents - News Summed Up

Biden Threatens To Cancel Pharma Patents


The U.S. government is threatening to go after companies who obtained patents on drugs developed with the help of government grants. The proposed process would clarify that the drug's patent could be in jeopardy if its price is out of reach for Americans, White House officials said. Challenges: The proposal faces legal challenges from the pharmaceutical industry, which argues that it violates intellectual property rights and could discourage future innovation. They are also seeking input from stakeholders, including the pharmaceutical industry, patient groups, and legal experts. Potential Impact: If implemented, the proposal could have a significant impact on the pharmaceutical industry and drug prices.


Source: The Times December 13, 2023 08:54 UTC



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