Declaring that "extraordinary times and circumstances of call for extraordinary measures," the United States on Tuesday announced it will support waiver of intellectual property protection on Covid-19 vaccines to help end the coronavirus pandemic.
US Trade Representative Katherine Tai made the announcement after pressure from developing countries and liberal and progressive lawmakers in the US while disclosing that Washington will actively participate in WTO negotiations to make that happen.
After a belated recognition of the Covid-19 tsunami striking India through a second wave, the United States is pulling out all stops to rush aid of every kind -- including vaccines, oxygen, ventilators, therapeutics, and personnel -- amid alarm that there could be a worldwide relapse if New Delhi
The Biden administration's decision does not mean vaccines will roll off the assembly lines in the billions needed any time soon. There will be hard negotiations over the fine print at the WTO and it will take pharma companies months to set up or expand manufacturing facilities to crank out the vaccines made by the likes of Pfizer, Moderna, and others that are under patent protection.
But just relenting on IP stranglehold is a start. Stocks of major pharma companies slid on the news but there was general rejoicing on social media at the development.
Source:-https://timesofindia.indiatimes.com/world/us/us-relents-says-it-will-support-patent-waivers-on-covid-vaccine/articleshow/82418870.cms
