TPA Slams Biden Administration’s Proposed Overreach in Drug Patents

WASHINGTON, D.C. – The Taxpayers Protection Alliance slammed the Biden administration’s new proposal to seize drug patents, justifying its power grab with economically unsound theories about market concentration within the pharmaceutical industry.

In an announcement on X (formerly Twitter), President Biden gloated about his far-overreaching proposal, stating: “if a drug made using taxpayer funds is not reasonably available to Americans, the government reserves the right to ‘march in’ and license that drug to another manufacturer who could sell it for less.”

In response, TPA President David Williams offered the following comments:

“Once again, this administration is foolishly intervening in the market, targeting companies that are creating innovative technologies and treatments for conditions affecting countless consumers. But there’s also something more sinister at play here. What President Biden has proposed is rank theft and a violation of basic property rights. It will set a dangerous precedent – particularly given the White House’s mistaken ideas about prices and competition. If the Biden administration were truly interested in promoting competition among pharmaceutical companies, it would reform the bloated, inefficient, and regressive federal regulatory regimes that stymie innovative upstarts and strengthen large incumbents market share.