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Commentary: D.C.’s drug problem
Bandow criticizes D.C. city council member David Catania for “pushing the Prescription Drug Compulsory Manufacture License Act”, which would allow D.C. to seize drug patents using the government’s power of eminent domain and award them to generic-drug manufacturers.
The goal: cheap drugs for everyone. After all, drugs are very expensive to research and develop, but the final product - the pill - can be produced very cheaply.
Bandow writes that patients might rejoice
…until they show up at the pharmacy expecting to buy the next generation of lifesaving drugs. The U.S. industry spends about $40 billion a year on drug research and development. Or did, if Mr. Catania gets his way. No company will invest the roughly $800 million that it takes, on average, to create a new medicine if it knows the government can seize the result of its work. There ain’t no such thing as a free lunch, goes the saying.
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