US President Joe Biden temporarily supported the exemption of Covid vaccine patents due to pressure from Democratic lawmakers and other countries.
America has supported the exclusion of the Covid vaccine from intellectual property rights. The Biden government announced that it will support a proposal made by India and South Africa to the World Trade Organization, which will temporarily abandon patents for the coronavirus vaccine in order to increase its supply.
US President Joe Biden temporarily backed the exemption of covid vaccine patents due to pressure from Democratic lawmakers and other countries, and production of the covid vaccine is expected to accelerate due to the exemption in the patent. On the other hand, the drug companies, angry with this decision by the Biden government, argue that this exemption will not increase production; Companies say contractors don’t have the technology.
Despite strong opposition from big drug companies and US chambers. The government made such an important decision that American companies argued that it would affect their Republican Party. The opposition Republican Party also wrote to President Biden and Thai.
Extraordinary decisions in extraordinary circumstances, United States sales representative Katherine Tai said Wednesday that it is a global health crisis that has resulted in extraordinary decisions. Tai said the Biden government is a firm believer in protecting intellectual property but is in favor of an anti-Covid-19 vaccine exemption to end the epidemic. The decision of the Biden government will make it easier for the General Council of the World Trade Organization (WTO) to approve it.
India and South Africa had a temporary relaxation of trade-related issues (TRIPS) related to rights during the Kovid-19 emergency at the WTO of intellectual property proposed. The TRIPS Agreement is a legal agreement between the member states of the World Trade Organization (WTO). It sets the standard for Member States’ regulation of various forms of intellectual property that apply to Member States.
At the Asian Development Bank’s (ADB) annual meeting on Monday, Finance Minister Nirmala Sitharaman emphasized the need to analyze the TRIPS agreement in the context of the covid epidemic. Tedross Gebreyasis said the support for the surrender is a historic moment in the fight against Covid-19.