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American innovation:

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    Reps. Jim Himes and Mikie Sherrill are Democrats from Connecticut and New Jersey, respectively, and members of the New Democrat Coalition. The U.S. economy is rebounding from Covid, showing strength and resiliency, but real economic challenges remain. Due to the global pandemic and weak supply chains for critical goods like microchips and semiconductors, American consumers are feeling the stress of inflation at the supermarket and used car lots. The good news is that Congress is working to find agreement on a bipartisan innovation bill that addresses these issues by strengthening our supply chains, supercharging American innovation and helping America outcompete nations like China. We must take urgent action to make critical investments in American innovation, reduce our reliance on despotic regimes and expand economic cooperation with our allies across the globe. The bipartisan innovation bill will not only be good for our economy and our pocketbooks, it's also critical for our national security. The Russian war in Ukraine and escalating Chinese aggression toward Taiwan show why Congress must swiftly send this legislation to the President's desk. Following World War II,...
    A Washington-based advocacy group has just petitioned the government to seize the patent covering the prostate cancer drug Xtandi so generic manufacturers can copy the medication. The group behind this petition has issued similar calls in the past. But both Democratic and Republican administrations have rejected such petitions on the grounds that they misconstrue current law, as the current administration should likewise recognize. The government contributed approximately $500,000 to research at UCLA that served as the foundation for Xtandi. The university’s findings were eventually licensed by Astellas — which, after more than $1.4 billion of investments and years of research and development, created the medication. Since the government funded early-stage research underpinning Xtandi, the petitioners argue, federal officials should forcefully lower its price by licensing the medication to generic manufacturers. Of course, that’s not warranted by the law that took the medication from bench to bedside: the Bayh-Dole Act. Prior to 1980, America had an innovation problem. The government funded basic research at university and non-profit labs and retained the patents resulting from the research. Inventors had no incentive to...
    Casting an imposing shadow, General Daniel Morgan strode with confidence and determination beside the rows of blazing campfires at Cowpens — a cow pasture, near present-day Spartanburg, South Carolina.  239 years ago, that freezing night in January was the eve of one of the most decisive battles of the Revolution, one that was won through a combination of leadership and adaptability.  A fearless veteran of numerous military campaigns, Morgan inspired his men through example. Standing a full six feet, which was unusually tall for the time, Morgan didn’t wear many of the trappings of a typical eighteenth-century military officer, and he carried only a simple sword. As a result, the men felt an affinity with Morgan: he was one of them. His personal battle history was etched deeply across his body. On his left cheek, he bore an angry scar from a ball that entered his neck, passed through his mouth, took out most of his rear teeth, and exited his upper lip.  According to legend, on this night—January 16, 1781—one of Morgan’s aides lifted the general’s shirt, exposing the...
    The US crypto industry is going through a dynamic moment with the bill that seeks to impose discretionary taxes on digital currencies. In the midst of this conjuncture, the defenders of the environment related to cryptocurrencies consider the bill as an aggression and not as a form of regulation of the activity. For their part, the senators of the North American nation were divided into two large groups, each one with proposed amendments for that project. One of the groups, led by Sen. Cynthia Lummis, proposes an amendment that is supported by the crypto community. On the other hand, there is the Warner amendment, which excludes developers under the PoW protocol from the weight, but leaves their peers of PoS-related projects in trouble. This causes a stir within the crypto community, which is united facing the possible approval of the bill from Senator Warner. Likewise, in the group of defenders of the cryptocurrency industry, Texas Senator Ted Cruz stands out. He has repeatedly expressed his support for everything related to Bitcoin and cryptocurrencies. Is the US crypto industry at...
    More On: prescription drugs FDA approved controversial Alzheimer’s drug despite objections from staff First patient given controversial new Alzheimer’s treatment drug Bristol-Myers Squibb sued for $6.4B over delayed cancer drug New Yorkers with chronic illness need deliverance from this unfair insurer practice Through the near-miraculous success of vaccines at ending the coronavirus pandemic, it’s clear that medical innovation both saves and improves lives. Yet many leading congressional Democrats are pushing a deeply flawed bill that will harm patients by undermining the very innovation that delivered multiple safe and effective vaccines in record time.  This bill, H.R. 3, would give the federal bureaucracy unprecedented power to set prices for prescription drugs. Rather than pursuing this measure, Congress should work toward common-sense reforms that have broad support and will ensure continued access to life-saving and life-enhancing medications.  To understand the problems with H.R. 3, look to the experience of countries where the government sets drug prices. While price controls might reduce the sticker price of a drug, patients in these countries suffer from drug shortages and restricted access to treatments.  For...
    Last year, while COVID-19 caused much of our economy to shut down, scientists around the world continued, full speed ahead, to develop vaccines for a virus that had emerged only months earlier.  Taxpayer investment supplemented this work, and agencies like the U.S. Food and Drug Administration worked to ensure vaccines were effective in the timeliest way possible. The pace at which vaccines were developed and brought to market is a testament to the ingenuity and innovation of our pharmaceutical industry.  DEROY MURDOCK: DEMS' ELECTRIC CAR DREAMS RUNNING LOW ON BATTERYThese vaccines were made possible in part because innovative companies invested tremendous resources into intellectual property (IP) development prior to the onset of the pandemic. They made these investments with the expectation that strong IP protections in the United States and around the world, known as the World Trade Organization’s Trade-Related Aspects of Intellectual Property (TRIPS) agreement, would safeguard their work once the vaccines came to market.   The property rights that pharmaceutical manufacturers hold when they develop life-saving therapeutics and vaccines are protected by the TRIPS agreement, under which WTO Members...
                        U.S. Rep. Buddy Carter (R-GA-01) and U.S. Rep. Vern Buchanan (R-FL-16) this month wrote U.S. President Joe Biden and expressed concerns about the president’s support for waiving Intellectual Property (IP) protections related to the COVID-19 vaccines. This, according to a newsletter that Carter emailed his constituents. “Waiving the IP protections for the COVID-19 vaccines will be a disaster. The insane move from the Biden Administration not only counters our patent system, it will stifle the innovation of lifesaving drugs and cures by removing the incentives for investment,” Carter said. “It is also a gift to China who has spent decades trying to steal American innovation, and who spent all last year trying to steal COVID-19 vaccine IP. We cannot allow this to happen.” Members of Carter’s staff published the letter to Biden on the congressman’s website. “We remain committed to working together to address the global needs of vaccine distribution, but this proposed waiver will not help us meet that goal. Intellectual Property (IP) protections have fostered life-saving...
    South Korean electric-vehicle battery makers SK Innovation and LG Energy Solution have reached a settlment in a US trade dispute, Bloomberg reported. Under the terms of the agreement, SK will pay $1.8 billion (2 trillion won) in cash and royalties to LG. In a joint statement the companies said they would “work to help the development of EV battery industry in South Korea and the US. through healthy competition and friendly cooperation,” adding that they would “work together to strengthen the battery network and environmentally-friendly policy that the Biden administration is pursuing.” In February, the US International Trade Commission imposed a 10-year import ban on SK Innovation— due to take effect Sunday— following allegations it illegally obtained technology from rival LG. The settlement will prevent an import ban on SK Innovation batteries into the US, which would have been problematic for the Biden administration. Ford and Volkswagen both are slated to start production on electric vehicles next year, using batteries made at SK’s plant in Georgia. “This settlement agreement is a win for American workers and the...
    The following article is sponsored by StopSocializedMedicine.org and authored by George Landrith, president of Frontiers of Freedom.    President Trump has done a lot in his first term to strengthen the U.S. Economy, make America more competitive, and bring good paying jobs back to America. As a result, before the Chinese COVID pandemic and the almost complete economic shutdown imposed by various governors and mayors, Americans saw their wages on the rise at record levels and had record high employment opportunities. So President Trump gets high marks for his work on the economy and understanding market forces. But I am concerned that his administration’s “most favored nation” executive order, which would impose an international pricing index on medicines and drugs in Medicare Part B, is a huge mistake and will do a great deal of harm both to our economy and to those who suffer from illness and disease and are in need of cures. Most of the nations that would be used in the international pricing index have socialized medicine. So, effectively such an approach would simply import an element of socialized medicine to America. President Trump has wisely opposed attempts...
    After their disastrous defeat in 2016, DNC elites finally had an epiphany that they needed to engage the American working class again — or they realized the political expediency of paying lip service to pro-American economic policy. In either case, the “Buy American” plan released by Joe Biden’s campaign in early July is so close, yet so far away from being an industrial policy that puts America first. In fairness, the plan isn’t without its merits. It strengthens the ‘Made In America’ program by increasing the amount of qualifications that must be met for a product to be stamped with its seal. It also promises to place fees on imports from countries that shirk their carbon-reduction obligation to maintain unfair manufacturing advantages over the United States. Its recognition that organizing unions and bolstering industrial growth aren’t mutually exclusive is refreshing to boot. Yet when Biden’s track record of more than four decades is considered, it seems unlikely that he would make good on the plan’s key commitments. Beneath the barrage of gritty politicking, (accusing President Donald Trump of “standing up...
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