white house threatening that it might actually protect its citizens from corporations
“The White House is threatening”
That line is so telling. The media arm of corporate America spinning hard. Like a child getting told no and telling everyone that getting refused a third PS5 is abusive.
But for real, if I can point to any other developed country in the world and they’re paying way less for the same thing sold in the US, then it shouldn’t be that high in the US either. I get making a profit off your research, but especially when taxpayers helped fund said research, there should be no reason we’re essentially subsidizing the cost of the drug in the rest of the world.
Sounds like a toothless threat, following through would upset too many campaign donors.
It’s not toothless. There is an existing law that allows the government to issue their own licenses for drugs still under patent developed using at least some amount of tax payer money under certain circumstances. It’s pretty broadly worded in the law when this can be done, so previously regulations were made to define the circumstances more precisely. The administration is issuing a new regulation that says one of those circumstances will now include if the drug is high priced limiting its access. Because new regulations issued by the executive branch have a mandatory public comment period after they are proposed before they take effect, its not active quite yet but will be soon (that’s why every headline about this is using the dumb vague word of threaten). The drug companies are already promising to sue to try and overturn the new regulation. So yeah it’s got teeth.
Thank you, I came to this comment section hoping someone would explain what exactly the basis in law was for this.
This is the specific law Biden is trying to derive the authority from if you’re interested in more: