Cutting-edge drugs could vanish under Biden’s unprecedented move to seize patents

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CEI’s Dr. Joel Zinberg is cited in the Washington Times on the Biden Administration’s move to seize patents:

Dr. Joel Zinberg, a senior fellow at the Competitive Enterprise Institute and director of the Paragon Health Institute’s Public Health and American Well-Being Initiative, said the high prices of some drugs reflect the cost of innovation and cheaper generic versions eventually reach the market without government intervention. Americans often pay higher prices but have earlier access to the drugs than patients in other countries and later pay less than in other countries for generics.

He cited American-made HIV and hepatitis C drugs that have decreased considerably in cost just a few years after their introduction.

“Within that initial time frame for some of these innovative drugs, the prices are higher here,” Dr. Zinberg said. “But on the back end, we’ve gotten the benefit of those innovative drugs at much lower prices.”

Read the full article on the Washington Times.