ARTICLE | Top Story

Warren's punishing scheme to tap pharma for NIH

January 23, 2015 2:17 AM UTC

Sen. Elizabeth Warren (D-Mass.) plans to introduce legislation next week that she said would force large pharmaceutical companies entering major settlements with the U.S. government to pay NIH "one percent of an offending company's annual profits for each of its blockbuster drugs that can be traced to government research support." Companies would pay the fee for five years.

In a speech to liberal advocacy group Families USA, Warren said that if the proposed Medical Innovation Act had been in force for the last five years, it would have boosted NIH's budget by $6 billion per year. ...