President Joe Biden wants to lower drug prices. While that is a laudable goal, we can’t afford to undermine the intellectual property rights that helped produce these innovative drugs in the first place. A recent proposal would do just that, and it’s not limited to drugs.
The proposed policy change would reinterpret a 1980 law that ushered in a new era of American innovation and collaboration between the public and private sector. But if this proposed policy change is finalized, it will cause a wide swath of our high-tech sector to stall out. And, while in Congress, Biden was a passionate champion of this very law and the critical innovation it spurred.
Most Americans probably hadn’t heard of the Bayh-Dole Act until the White House announced the change. The goal of the popular bipartisan act was to get the public and private sector to work together to further technology first …