U.S. backs Covid vaccine intellectual property waivers to expand access to shots worldwide
WASHINGTON — The Biden administration announced Wednesday that it supports waiving intellectual patent protections for Covid-19 vaccines, as countries struggle to manufacture the life-saving doses.
“This is a global health crisis, and the extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures. The Administration believes strongly in intellectual property protections, but in service of ending this pandemic, supports the waiver of those protections for COVID-19 vaccines,” United States Trade Representative Katherine Tai wrote in a statement.
“As our vaccine supply for the American people is secured, the Administration will continue to ramp up its efforts – working with the private sector and all possible partners – to expand vaccine manufacturing and distribution. It will also work to increase the raw materials needed to produce those vaccines,” the statement added.
https://www.cnbc.com/2021/05/05/us-backs-covid-vaccine-intellectual-property-waivers-to-expand-access-to-shots-worldwide.html
This is great news! Of course CNBC had to point out that pharmaceutical stocks immediately dropped when the news was released, lol.