Obama’s fiscal cliff drug ‘reform’ idea will backfire

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As part of the fiscal cliff negotiations, the White House has trotted out a deeply misguided healthcare idea. The President has his allies want to loosen “intellectual property” protection for an advanced class of pharmaceuticals called “biologics.”

This is a mistake. Including this plan in any federal budget deal would inevitably undermine drug innovation, compromise care for millions of American patients, and — ironically — drive up long-term healthcare costs.

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