Should the government nationalize inventions and patents? Leading the conversation is our special guest, Joe Allen, the Executive Director for the Bayh-Dole Coalition. In this interview, Joe discusses the recent unveiling of the Federal Register Notice, lauded by the White House as a powerful tool to combat soaring drug costs. However, as Joe points out, the intended target might have been missed, and the impact on drug prices is minimal. Instead, he argues that the real threat lies in the potential ramifications for innovative small companies, the driving force behind our economy.
According to Joe, the government’s influence may force universities to license competitors due to displeasure with a product’s pricing. This, in turn, affects a limited number of drugs, but the dagger looms large over the heads of the very entities responsible for bringing high-risk inventions to market—innovative small businesses. Joe aptly draws parallels with the historic date of December 7, once known as “Pearl Harbor Day,” suggesting that, unlike the attack in 1941, this time, we may have bombed ourselves by undermining confidence in the reliability of universities and federal laboratories as R&D partners.
Curious to delve into the details and hear more from Joe Allen on this critical issue? Click here to listen to the full interview and gain a comprehensive understanding of the potential consequences of government control over inventions and patents. Don’t miss out on this enlightening discussion that delves into the intersection of policy, innovation, and economic impact.