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Mark Cuban Slams United States' Plan to give Chinese Billionaire Monopoly Rights on Cancer Drug

Published: August 11, 2017
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Source: huffington post

Mark Cuban on Wednesday condemned a federal agency’s plan to give a pharmaceutical company controlled by a Chinese billionaire exclusive rights to a new liver cancer treatment developed with U.S. government researchers.

The Dallas Mavericks owner, himself a billionaire, told HuffPost the decision “ignored” the need to use taxpayer-funded research in a way that advantages Americans.

“USA inc has got to start operating in the best interests of all of us shareholders,” the “Shark Tank” host wrote in an email, after retweeting a link to a HuffPost report on the licensing plans. “Our taxes should be an investment that expects a financial and social return.”

The National Institutes of Health proposed awarding Salubris Biotherapeutics Inc. exclusive worldwide rights to a portfolio of patents on an antibody drug used to treat liver cancer, according to a notice published Monday in the Federal Register, first reported by HuffPost.

The firm is the Maryland-based arm of Shenzhen Salubris Pharmaceuticals Co., the Chinese drugmaker run by former Shenzhen mayor and billionaire Ye Chenghai, who with his family controls a 66-percent stake in the $5 billion company. 

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