[Congressional Record Volume 170, Number 100 (Thursday, June 13, 2024)]
[Senate]
[Pages S4063-S4064]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                        Prescription Drug Costs

  Mr. President, on one final matter, earlier this week, Senate 
Democrats took up the Biden administration's banner of prescription 
drug socialism.
  Our colleague Chairman Sanders announced he would ask his HELP 
Committee colleagues to subpoena a drug company executive to testify 
before the committee about the prices of innovative treatments.
  Never mind that U.S. Senators shouldn't require remedial lessons in 
the workings of the market economy. And never mind that the company in 
question had already expressed willingness to testify. Our colleague 
has decided to take the route of maximum escalation.
  I have discussed the facts behind America's world-leading medical 
innovation sector at length before. What innovator would sink the time, 
resources, and risk into the development of a new treatment if there 
were no prospect of recouping their investment? Apparently, Senate 
Democrats aren't the only ones who seem to be stumped--stumped--by this 
question. The Department of Commerce is taking steps to finalize a 
framework it announced last December known as march-in rights. Under 
this policy, if the Federal Government deems that the prices of certain 
drug treatments are too high, it could elect to ``march in'' and seize 
the company's intellectual property rights.
  In a rather ironic twist, the Department's proposed policy relies on 
a law--the Bayh-Dole Act of 1980--that

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was designed to do the exact opposite: to promote cooperation between 
government and innovators. This time around, the latest chapter of 
prescription drug socialism would send all the wrong signals to would-
be innovators behind future lifesaving cures. It would tell them not to 
take risks; not to build new things; and not to invest their time, 
resources, and creativity to develop more of the greatest medical 
achievements the world has ever seen.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER (Mr. Lujan). The clerk will call the roll.
  The legislative clerk proceeded to call the roll.
  Mr. BRAUN. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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