Re: Blurb on bloomberg this morn:biden: we can SEIZE patents to help lower drug costs
I've heard that the intent of the law was to spur development of patents of universities that were just sitting on the shelf for lack of capital & risk-takers.
Now that the free enterprise system has taken the risks of their capital and had 10% rate of success, the government wants to control the back end recovery of capital.
It's a slippery slope Biden is approaching. But I think it's an effort to try to shame the system into bending to the administration's wishes. This is a non starter, IMO.
I think the problem of the US health care system is that the government believes that everyone is entitled to boutique prescriptions regardless of their limited benefits and extraordinary costs to the taxpayers. Other countries limit access and wait for the prices to come down later in the patent cycle. The rest of the world relies on the US enterprise system that excels at risk taking and successful execution.