President Joe Biden (Patrick Semansky/AP Images)

Biden ad­min­is­tra­tion lays foun­da­tion for use of march-in rights as it talks up drug price goals

The De­part­ment of Com­merce on Thurs­day re­leased new draft frame­work which guides the gov­ern­ment to con­sid­er pric­ing in de­cid­ing whether to use its au­thor­i­ty to take over patents on pre­scrip­tion drugs that were in­vent­ed with the help of fed­er­al­ly-fund­ed re­search.

Pres­i­dent Joe Biden hailed the frame­work as “an im­por­tant step to­ward end­ing Big Phar­ma price goug­ing” in a post on X, the so­cial me­dia plat­form for­mer­ly known as Twit­ter. But in­dus­try ad­vo­cates ar­gue the move could have a chill­ing ef­fect on in­no­va­tion, de­pend­ing on how the gov­ern­ment pro­ceeds.

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Life Sciences Senior Associate

General Catalyst

San Francisco, CA, USA