Chinese vaccine makers rebounded after slumping on Thursday following the initial news that the U.S. would support discussions for a waiver of the rights to develop vaccines. The Biden administration’s plan would create “severe complications” for the production of vaccines, a German government spokeswoman said Thursday in an email.
Shanghai Fosun Pharmaceutical Group Co., which has the rights to develop and market BioNTech SE’s shot in China, advanced as much as 7% in Hong Kong after sinking 14% the previous day. Walvax Biotechnology Co. gained 3.7% in Shanghai, one of the best performers in the benchmark CSI 300 Index.
In the U.S., Pfizer Inc., BioNTech SE, Novavax Inc. and CureVac NV all pared an earlier slump.
Ishant Kumar/iStock
Against the backdrop of the world s second most populous country in the grips of a catastrophic COVID-19 surge, the Global Fund today said it approved $75 million to help India buy oxygen concentrators and oxygen plants.
In other developments, several groups and leaders praised the United States statement yesterday supporting a temporary waiver of intellectual property rights for COVID-19 vaccines, but others warned that the step could hamstring vaccine production.
Meeting medium-range needs for oxygen
With its aid announcement for India today, the Global Fund said the effort is designed to help the country meet its medium-range needs for oxygen, which along with corticosteroids is among the only proven lifesaving treatment for the sickest COVID-19 patients.
US backs proposal to waive IP protection for COVID-19 vaccines Monumental decision could see IP protections for COVID-19 vaccines temporarily removed
The US has announced that it will support a proposal to waive intellectual property (IP) and patents on all COVID-19 vaccines, aiming to “get as many safe and effective vaccines to as many people as fast as possible”.
The Biden-Harris Administration is backing a proposal from the World Trade Organization (WTO), supported by South Africa and India, that would temporarily remove IP protections on COVID-19 vaccines.
The move itself is surprising, given that historically the US has been in favour of protecting IP. However, in a statement, US Trade Representative Katherine Toi said that although the administration “strongly believes in [IP] protections…in the service of ending this pandemic, [it] supports the waiver of those protections for COVID-19 vaccines”.
Covid-19 news: UK under-40s to get alternative to AstraZeneca vaccine newscientist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newscientist.com Daily Mail and Mail on Sunday newspapers.
FILE PHOTO: A medical worker prepares a dose of the Comirnaty Pfizer-BioNTech COVID-19 vaccine inside the exhibition palace transformed into a vaccination center in Nice as part of the coronavirus disease (COVID-19) vaccination campaign in France, April 29, 2021. REUTERS/Eric Gaillard
SHARES of Covid-19 vaccine developers in Asia got some relief after the German Chancellor rejected a U.S. proposal to waive patent protections for coronavirus shots.
Chinese vaccine makers rebounded after slumping on Thursday following the initial news that the U.S. would support discussions for a waiver of the rights to develop vaccines. The Biden administration’s plan would create severe complications” for the production of vaccines, a German government spokeswoman said Thursday in an email.