Big Pharma group up in arms after Biden signals support for profit-threatening patent waiver on Covid vaccines
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Big Pharma group up in arms after Biden signals support for profit-threatening patent waiver on Covid vaccines

Newsdesk |
May 6, 2021

An international body representing a who’s-who of Big Pharma firms has rejected a US-backed proposal to lift intellectual property rights for coronavirus vaccines, insisting the move will not speed up global distribution.


New Delhi, 06 May 2021                                                                           

As per news report of rt.com, The International Federation of Pharmaceutical Manufacturers (IFPMA) criticized the IP plan in a statement on Wednesday, not long after the Joe Biden administration voiced support for the idea, first floated by the World Trade Organization last October. “The decision of the US administration to support a patent waiver for Covid-19 vaccines is disappointing,” the IFPMA said, adding that IP waivers “will not increase production nor provide practical solutions needed to battle this global health crisis. On the contrary, it is likely to lead to disruption.” Calling the proposal “the simple but the wrong answer to what is a complex problem,” the group argued that future efforts should instead focus on eliminating trade barriers between nations, addressing bottlenecks in supply chains and encouraging “rich countries to start sharing doses with poor countries.”

Source -rt.com

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