Proving that he understands the plight of poor countries and their people which is best manifested in the great chasm that divides the haves and the have-nots nations as far as supply of Covid-19 vaccines is concerned, US President Joe Biden has supported the proposal of World Trade Organization to waive intellectual property rights for COVID-19 vaccines and medications, allowing countries to make their own to the chagrin of giant pharmas.
IN a move seen to send shockwaves to an otherwise peaceful and booming pharmaceutical giants that are raking billions in profits due to Covid-19 vaccines, US President Joe Biden expressed his support for the World Trade Organization’s proposed waiver of patent protections on COVID-19 vaccines.
This clears a huge roadblock in vaccine and cash-strapped countries including the Philippines to create their own, despite the patents being privately held.
According to US trade representative Katherine Tai, COVID-19 is a global health crisis that calls 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,” Tai said.
In the United States, the pace of its COVID-19 inoculation program has slowed down.
In some states, there are more vaccine doses than people who want them, and those who want them can easily get it at a local drug store with mobile clinics.
Meanwhile in the Philippines, only 1.6 percent of the population has received at least one dose of the vaccine, with 0.3 percent receiving full inoculation.
More doses are slowly coming to the country from abroad, which could pave the way for hastening of nationwide vaccination program.
To address vaccine inequality, the World Trade Organization proposed to waive intellectual property rights for COVID-19 vaccines and medications, allowing countries to make their own.
According to Mustaqeem de Gama of South Africa’s World Trade Organization, it is only right to pass the waiver, as the consequences are “staggering.”
Without vaccines in highly-populated countries, the loss of human life will continue to happen, and the economic devastation in these countries face will worsen.
Prior to Biden’s show of support, there were actually some of the wealthy countries that previously resisted the idea. The other nations include the UK, Canada, and Japan.
Unfortunately for Biden, this decision was not supported by the Pharmaceutical Research and Manufacturers of America, a drug industry trade group.
Aside from the fact that this industry would clearly lose money if a waiver is created, they believe that the decision will undermine the country’s global response to the pandemic and would compromise safety as it could introduce counterfeit vaccines to the market.
On top of that, they believe that by waiving patents, it would weaken the country’s already-strained supply chains and compromise US job creation and the country’s stronghold in biomedical research and innovation.
Despite opposition from his own country, the World Health Organization praised Biden for the gesture, which WHO head believes is a “monumental moment” in the global fight against COVID-19. (MO)
Tags: #Covid19, #Covid19vaccine, #intellectualproperty, #pharmaceuticals