Labour leader Corbyn vows compulsory licensing to slash prices of patented drugs

Jeremy Corbyn, leader of the U.K.’s Labour Party, has outlined steps he would take to reduce drug prices if elected prime minister, including imposing compulsory licensing on patented drugs and creating a public company to manufacture generic drugs.

In an address on Tuesday to the Labour Party conference, Corbyn said he had recently met with a cystic fibrosis patient who could benefit from Orkambi ivacaftor/lumacaftor but isn’t receiving it because Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) “refuses to sell the drug to the NHS for an affordable price.” ...