Covid Vaccine Patent Waiver: There is a great hope of getting the vaccine to poor countries facing trouble for the Corona vaccine. The United States has supported the removal of patent protection on the anti-covid vaccine. The Biden administration has announced in the World Trade Organization (WTO) to support the proposal of India and South Africa to make the vaccine patent-free. If this happens, then the anti-covid vaccine patent will be temporarily waived to boost its supply. Actually, India wants other forma companies of the world to come forward to make Corona vaccine.
India had demanded from the WTO that it should allow forma companies to manufacture Corona vaccine. However, this initiative of India has been opposed by the leading forma companies of the world. US President Joe Biden gave temporary support to the exemption in the patent for the anti-COVID vaccine due to pressure from Democratic lawmakers and other countries. It is believed that the production of anti-COVID vaccine will be expedited due to the exemption in the patent. On the other hand, annoyed by this decision of the Biden administration, the pharmaceutical companies argue that this exemption will not increase the production. Companies say that the contractors do not have the technology.
Decision in global health crisis
US Trade Representative Katherine Tai said on Wednesday that it is a global health crisis that led to extraordinary decisions being taken. He said that the Biden administration strongly believes in intellectual property protection but supports exemptions for anti-Covid-19 vaccines to end the epidemic. The Biden administration’s decision will make it easier for the General Council of the World Trade Organization (WTO) to approve the proposal.
India and South Africa had proposed temporary relaxation of trade related aspects (TRIPS) related to intellectual property rights during the COVID-19 Emergency at the WTO. The TRIPS Agreement is a legal agreement between the World Trade Organization (WTO) member states. It sets the standard for the regulation of various forms of intellectual property by member states that apply to member countries of the WTO. The agreement came into effect in January 1995.
PM Modi also raised the issue
Prime Minister Narendra Modi raised this issue during a phone conversation with US President Joe Biden on 26 April. After the talks, an official statement issued by the Indian side said that Modi had emphasized on ensuring a simple and transparent supply chain of raw materials and inputs required for the manufacture of vaccines, medicines and therapeutics.
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