Biden to back WTO COVID vaccine patent waiver

Video Credit: Reuters - Politics
Published on May 5, 2021 - Duration: 01:57s

Biden to back WTO COVID vaccine patent waiver

President Joe Biden on Wednesday threw his support behind waiving intellectual property rights for COVID-19 vaccines, bowing to mounting pressure from Democratic lawmakers and more than 100 other countries, but angering pharmaceutical companies.

Jonah Green has more.

Biden to back WTO COVID vaccine patent waiver

Reporter: "President Biden, are you going to back a waiver at the WTO?

Are you going to back that?

Is the U.S. government going to back that?" "Yes - I'm going to talk about that later today, yes..." Bowing to pressure from fellow democrats and 100 other countries, President Joe Biden on Wednesday threw his support behind a proposed World Trade Organization waiver of intellectual property rights for COVID-19 vaccines.

...A potentially major shift in the pandemic fight which would boost the global vaccine supply but anger the powerful U.S. pharmaceutical industry.

In a tweet, WHO chief Tedros Adhanom Ghebreyesus called it "a monumental moment in the fight against #COVID19" and "a powerful example of [American] leadership to address global health challenges." Stocks for vaccine makers Pfizer, Moderna, BioNtech and Novavax fell on the news.

The United States and several other countries had previously blocked negotiations at the WTO about the waiver proposal led by India and South Africa aimed at helping developing countries to produce COVID-19 vaccines using the IP of pharmaceutical companies.

But Biden had been facing calls to change course as the COVID crisis grows more dire in certain hot spots - especially in India.

Biden's chief trade negotiator, U.S. Trade Representative Katherine Tai said the proposed measure would temporarily waive certain patent rights to help countries respond to the COVID-19 pandemic.

โ€œThis is a global health crisis," Tai wrote, "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." Because WTO decisions require a consensus of all members, Tai cautioned negotiations would take time.

You are here

๐Ÿ’ก newsR Knowledge: Other News Mentions


Disease caused by severe acute respiratory syndrome coronavirus 2
The application uses Co-WIN integration to gather data about vaccination centres. Users will need to register using their mobile number.
Credit: DNA - Published 3 hours ago

19 July is the "terminus date" for England's remaining coronavirus restrictions and it would take an "unprecedented and remarkable" change in circumstances to..
Credit: Sky News - Published 3 hours ago

Novavax in collaboration with Indian drug manufacturer Serum Institute of India is manufacturing these vaccines for India and low-income countries.
Credit: DNA - Published 6 hours ago

World Trade Organization

Intergovernmental trade organization
Prime Minister Narendra Modi on Saturday sought G7's support for the proposal moved at the WTO by India and South Africa for a TRIPS waiver on Covid-related..
Credit: IndiaTimes - Published 3 days ago

UN Secretary General Antonio Guterres has extended support to India and South Africa's initiative at the WTO to waive intellectual property protection for..
Credit: IndiaTimes - Published 3 days ago

World Health Organization

Specialized agency of the United Nations
The World Health Organization (WHO) has, at the G7 summit in the UK, blamed the second wave of the Covid-19 pandemic in India on the โ€œprematureโ€ opening up..
Credit: IndiaTimes - Published 2 days ago

G7 leaders have discussed the origins of the coronavirus outbreak as the World Health Organisation confirmed all hypotheses continue to be considered - including..
3 days ago • Sky News

Related videos from verified sources

Biden Announces Plan to Donate 500M Vaccine Doses 04:07
Video credit: NowThis - Published 18 hours ago 

Seattle Becomes First Major City to Reach Biden's 70% Vaccination Goal 01:20
Video credit: Cover Video STUDIO - Published 22 hours ago 

G7 nations to pledge 1 billion COVID vaccine doses for world 00:56
Video credit: Euronews English - Published 4 days ago 

You might like