Steve Forbes is Chairman and Editor-in-Chief of Forbes Media.
, hats off to President Biden’s handlers on how they’re dealing with the political fallout and media coverage surrounding the White House’s latest pandering ploy on drug pricing. They want to empower politicians and bureaucrats to seize the patents of drugs they deem too expensive and allow other companies to make them. The only reprieve is if prices on those medicines are reduced enough to satisfy the White House.
Before Bayh-Dole’s implementation, government-affiliated entities owned about 28,000 patents, of which only fewer than 5% were licensed to companies to develop. After the law was passed, in the biopharmaceutical sector alone, more than 200 new medicines and vaccines were financed, developed and brought to market in short order.
But now destructive danger lurks. To pacify misinformed leftist influencers during an election year, President Biden is proposing to weaken Bayh-Dole. He wants to give Washington politicians and bureaucrats the authority to “march in” and take control of patents on technologies that they decide are not being commercialized as they see fit.
Steve Forbes The White House Is Scheming On A Way To Seize Pate If The Government Can Seize Patents That Will Adve Biden's Plans To Seize Patents Extends Beyond Pate Bayh-Dole Act Of 1980 Bayh-Dole Act Created Uniform Patent Policy Among Under Bayh-Dole Universities And Research Institut Seizing Patents Will Play Havoc With Research And The Ultimate Winners Of Biden's Patent-Seizing Sch
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