For Immediate Release:
Contact: Kelly Broadway, 202-808-8853
[email protected]
Washington, D.C. – The Council for Affordable Health Coverage (CAHC) is fighting back against the Biden Administration’s efforts to revise standards that allow federal bureaucrats to march in and take the intellectual property of inventors.
In a letter to the National Institute for Standards and Technology, CAHC cautioned against revising the Bayh-Dole Act because it will chill investment in new technologies and treatments.
“The proposed framework sounds politically sexy – grab patents of companies if their drug prices are too high. But the impact will disappoint consumers – even the most aggressive efforts to reinterpret march-in rights would not affect 99 percent of drugs. So, while the Biden Administration talks tough, its approach will simply chill investment in new treatments and cures because the threat of the government stealing patents hangs over every new idea’s success.
At a time when drug shortages are rising and companies are reducing their efforts on research and development in response to the Inflation Reduction Act price-setting rules, this country cannot afford to have another government-run fix,” said Joel White, President, CAHC.