{"database": "press", "table": "releases", "rows": [["https://www.mcconnell.senate.gov/public/index.cfm/pressreleases?ID=50053602-C64B-420F-884F-03BFA860F37F", "Admin. Takes Another Step Toward Prescription Drug Socialism", "2023-12-12", "2023", "2023-12", "Republican", "Senate", "KY", "Mitch McConnell", "M000355", "www.mcconnell.senate.gov", "mcconnell", "https://www.mcconnell.senate.gov/public/index.cfm/pressreleases", "scraper", "WASHINGTON, D.C. \u2013 U.S. Senate Republican Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding prescription drug socialism:\n\n\u201cLast week, the Biden Administration announced the latest front in its push for prescription drug socialism: march-in rights.\n\n\u201cHere\u2019s what it means: Washington bureaucrats are claiming the authority to determine price ranges for drugs funded through public-private partnerships. And if these unelected regulators decide that a company has set its price too high, they will steal the company\u2019s intellectual property rights.\n\n\u201cIn President Biden\u2019s own words, \u2018the government reserves the right to \u2018march in\u2019 and license that drug to another manufacturer who could sell it for less.\u2019\n\n\u201cTo make matters worse, the Biden Administration claims that the authority for this power grab comes from a 1980 law designed to promote the exact opposite outcome. The purpose of the Bayh-Dole Act was to encourage private-public cooperation to drive innovation in medicine \u2013 not the other way around.\n\n\u201cThe truth is, incentives matter. If Washington bureaucrats get the final say on how American producers market lifesaving cures\u2026 then America will cease to be the world-leading hub of medical innovation.\n\n\u201cWhy would any entrepreneur invest the time and resources to create a new treatment if the government can simply steal their intellectual property and redistribute it?\n\n\u201cUnsurprisingly, the Biden Administration is still working out the kinks of prescription drug socialism. But the medical innovation sector can\u2019t afford to wait before reconsidering its investments.\n\n\u201cNeither, for that matter, can a whole host of other industries that rely on public-private partnerships.\n\n\u201cJust think about what it could mean in fast-evolving areas of technology.\n\n\u201cUnder the model of prescription drug socialism, the Biden Administration is laying the groundwork for government patent seizure on other cutting-edge technologies \u2013 from semiconductors to nuclear energy.\n\n\u201cSo Mr. President, America\u2019s pipeline of lifesaving cures is the envy of the world. American entrepreneurs and researchers save millions of lives.\n\n\u201cIf President Biden wants to march in on this innovation sector, the bright minds behind it just might decide to take their intellectual property and march on out of the American market.\u201d", 1, "2026-03-30T01:40:41Z", "2026-04-06T18:56:20Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.mcconnell.senate.gov/public/index.cfm/pressreleases?ID=50053602-C64B-420F-884F-03BFA860F37F"], "units": {}, "query_ms": 0.9374539367854595, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}