Print this article
Sometimes the sheer stupidity, posturing, and lack of insight by policymakers are breathtaking. As a form of virtue signaling, the Biden administration has just announced U.S. support at the World Health Organization (under TRIPS, the Agreement on Trade-Related Aspects of Intellectual Property Rights) for waivers of patents on COVID-19 vaccines.
Patents are widely misunderstood. They do not so much permit the holder to
do something; rather, they prohibit others from copying the patented “invention,” and, thereby, can be very valuable. Patents are an incentive to undertake high-risk, expensive research and development that might be uneconomic if there weren’t a period of exclusive rights to sell the fruits of that work and thus repay the investment. Otherwise, imagine telling a drug company that has just spent, on average, 10 to 12 years and more than billions of dollars to bring a new, innovative cancer drug to market that, upon its regulatory approval,
Photo: Michael Ciaglo (Getty Images)
After weeks of back-and-forth discussions within the Biden administration, the U.S. is now preparing to back the temporary waiving of patent rights over covid-19 vaccines a policy that advocates say is needed to speed up the production and acquisition of vaccines for developing countries. As part of its support, the US is expected to work with the World Trade Organization to negotiate the language of these waivers.
Advertisement
Since last October, more than 50 countries and several human rights organizations like Amnesty International have been pleading with the WTO to enact a waiver of its Trade-Related Aspects of Intellectual Property Rights Agreement (TRIPS) that would effectively suspend the protection of intellectual property for covid-19 treatments during the pandemic, including vaccines. This TRIPS waiver would then allow these countries to produce or purchase vaccines at a much lower cost. But the pharmaceutical industry, supported by
Over 100 Countries Back TRIPS Waiver On COVID-19 onenewspage.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onenewspage.com Daily Mail and Mail on Sunday newspapers.
Swiss not swayed by US vaccine waiver announcement
US Trade Representative Katherine Tai, at the WTO on April 28 last. 2021 Getty Images
Switzerland has reacted cautiously to the US decision to back a suspension of patents on Covid-19 vaccines, saying a waiver is not the best way to achieve better global supply.
This content was published on May 6, 2021 - 18:52
May 6, 2021 - 18:52
Jessica Davis Plüss
Jessica covers the good, the bad, and the ugly when it comes to big global companies and their impact in Switzerland and abroad. She’s always looking for a Swiss connection with her native San Francisco and will happily discuss why her hometown has produced some of the greatest innovations but can’t seem to solve its housing crisis.
New York City wants to offer the one-dose Johnson & Johnson vaccine to tourists
From CNN s Laura Ly
People take in the view at Times Square in New York on March 9. Noam Galai/Getty Images
New York City has now administered 6,809,451 doses of the Covid-19 vaccine, Mayor Bill de Blasio said Thursday.
City officials also announced an intention to offer the Johnson & Johnson vaccine to any tourist who visits New York City, pending state approval.
De Blasio announced that the city wants to install mobile Covid-19 mobile vaccination sites at various tourist attractions throughout the city such as Times Square, Brooklyn Bridge Park and the Highline to offer the J&J vaccine. The mayor said the city needs state approval to vaccinate non-New Yorkers and that they plan to begin as soon as they get that approval.