What Happened: U.S President Joe Biden has shown his support in waiving intellectual property rights on COVID-19 vaccines, after being pressured by over a 60 countries and Democrat officials.
Breaking News: The Biden administration will support lifting patent protections for Covid-19 vaccines, a breakthrough for global efforts to produce more doses as the virus rages in India and South America. https://t.co/dKC5P27cTs
— The New York Times (@nytimes) May 5, 2021
India and South Africa: India and South Africa led around 60 countries that were demanding the removal or ‘waiver’ of vaccine patents for the last six months. They were met with heavy opposition from the Trump Government, the UK and the pharma companies, however U.S President Joe Biden has taken a different stance.
These extraordinary times and circumstances of call for extraordinary measures.
The US supports the waiver of IP protections on COVID-19 vaccines to help end the pandemic and we’ll actively participate in @WTO negotiations to make that happen. pic.twitter.com/96ERlboZS8
— Ambassador Katherine Tai (@AmbassadorTai) May 5, 2021
What the waiver means: If approved, the waiver would allow vaccine production to be ramped up to provide more affordable vaccines to poorer countries. Moreover, developing countries have argued that vaccine patents have been an obstacle in the fight against COVID-19.
The U.S had previously blocked a proposal at the World Trade Organisation led by India and South Africa aimed at helping developing countries produce vaccines using the intellectual property of pharmaceutical companies.
New Zealand is the latest to join the United States in supporting the COVID vaccine patent waiver, first proposed by South Africa and India last October. https://t.co/AtaANQGQE9
— Geoffrey York (@geoffreyyork) May 5, 2021
Reaction: The head of the World Health Organisation has called it a ‘monumental move’ in the fight against COVID-19. WHO Executive Director Tedros Adhanom Ghebreyesus commended the efforts of the U.S President in waiving the vaccine patents temporarily and described it as an example of ‘leadership to address global health challenges’.
This is a monumental moment in the fight against #COVID19. The commitment by @POTUS Joe Biden & @USTradeRep @AmbassadorTai to support the waiver of IP protections on vaccines is a powerful example of leadership to address global health challenges. pic.twitter.com/3iBt3jfdEr
— Tedros Adhanom Ghebreyesus (@DrTedros) May 5, 2021
Doctors without Borders called it a ‘bold’ move in a time for ‘unprecedented global need’.
⚡This is huge: The US is putting lives over profits and will back the #TRIPSWaiver.
When will choose humanity,
choose solidarity, and get on the right side of history? https://t.co/cHAz52Ll2B— MSF Access Campaign (@MSF_access) May 5, 2021
However, not everyone is happy with the move. The International Federation of Pharmaceutical Manufacturers and Associations referred to the move as ‘disappointing’. A Geneva based lobby group said that the waiver was a simple but wrong answer to a complex problem.
Pfizer, Biontech, Novavax, Moderna shares plunge to session lows after U.S. backs waiving patent protections on Covid vaccines https://t.co/Wq9i3OsP1j pic.twitter.com/gEPwFw4yOg
— CNBC Now (@CNBCnow) May 5, 2021