Thread: Coronavirus
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Old 05-05-2021, 23:29   #4979
1andrew1
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Re: Coronavirus
Interesting!
Quote:
US backs plan to suspend Covid vaccine patents during pandemic

Move to rip up intellectual property rights prompts sell-off in shares of jab makers

The US has backed a temporary suspension of intellectual property rights for Covid-19 vaccines in a move likely to enrage the pharmaceutical industry, which strongly opposes the waiving of patents.

Joe Biden’s top trade adviser Katherine Tai said that while the US administration “believes strongly” in IP protections, it would support a waiver of those rules for Covid-19 vaccines.

“This is a global health crisis, and the extraordinary circumstances of the Covid-19 pandemic call for extraordinary measures,” Tai said in a statement.

In theory, a waiver would allow any pharmaceutical manufacturer in the world to make “copycat” vaccines without fear of being sued for intellectual property infringement.

Shares in the big makers of the coronavirus vaccine were hit by the announcement on Wednesday. Moderna, BioNTech and Novavax closed down by between 3 per cent and 6 per cent in New York.
Google the headline or subscribers can visit https://www.ft.com/content/eca86f43-...d-3cc8d652805e
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