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    Michael Hiltzik: A new initiative by Biden that might finally bring drug prices down

    The most frustrating thing about America's failure to rein in drug prices is that a weapon against Big Pharma's profiteering has been hiding in plain sight — and never used — for more than 40 years. But it's now being unsheathed by the Biden White House. We're talking about a provision of the Bayh-Dole Act of 1980, which was enacted to give private enterprise more latitude to exploit ...
    by Michael Hiltzik, Los Angeles Times Dec 14, 2023 5 minutes
    In this photo from July 7, 2023, U.S. President Joe Biden speaks during an event about lowering health care costs in the East Room of the White House in Washington, DC.

    The most frustrating thing about America's failure to rein in drug prices is that a weapon against Big Pharma's profiteering has been hiding in plain sight — and never used — for more than 40 years.

    But it's now being unsheathed by the Biden White House.

    We're talking about a provision of the Bayh-Dole Act of 1980, which was enacted to give private enterprise more latitude to exploit government-funded research in the public interest.

    After resisting for years calls to apply rights granted the government by Bayh-Dole to bring down drug prices, President Joe Biden has reversed himself. On Dec. 8, the administration issued a proposal to do just that for public comment.

    This could be a major step toward bringing drugmakers' pricing decisions back to Earth, and one that doesn't require congressional action.

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