The US government has created a major step during a pandemic by backing the COVID-19 vaccine waivers for the patients.
Currently, the health crisis continues to impact the country as the Biden administration looks forward to the expansion of vaccine manufacturing and distribution.
US Commits to Support Waivers on Vaccine Intellectual Property
On Wednesday, May 5, Katherine Tai, the US Trade Representative said that the Biden administration is strongly believing in the intellectual property protections that's why they ended up with the waiver support for COVID-19 vaccines.
"As our vaccine supply for the American people is secured, the Administration will continue to ramp up its efforts - working with the private sector and all possible partners - to expand vaccine manufacturing and distribution. It will also work to increase the raw materials needed to produce those vaccines," Tai added in the statement.
CNBC reported that there was a significant drop in the stock of the COVID-19 vaccine manufacturers around the world which include BioNTech, Moderna, and Pfizer. This occurred when the news about the potential waivers erupted.
At the time, Moderna recorded a decline of 6.1%, while Johnson & Johnson ended with 0.4%.
However, the US government's decision sparked some confusion among the manufacturers spearheaded by the Pharmaceutical Research and Manufacturers of America, a trade group of pharmaceutical companies in the United States.
The association rejected the government's support in waiving IP protections. Currently, Pfizer, Johnson % Johnson, and AstraZeneca are the vaccine manufacturers which are members of the organization.
According to the group's CEO, Stephen J. Ubi, the administration's action could undermine the global pandemic response which could also affect safety.
Moreover, Ubi added that it will only perplex the private partners and the public, as well. He continued that it will promote the widespread use of counterfeit vaccines and will weaken the currently damaged supply chains.
This week, the members of the World Trade Organization (WTO) encouraged the countries to discuss the implementation of the temporary vaccine patent waiver.
Countries such as India and South Africa support this move so that the COVID-19 vaccine distribution in the developing countries could ease off.
According to a person familiar with the US government's plans, the discussion among WTO members could be time-consuming since it will first require the approval of 164 members.
Furthermore, the anonymous official said that there were already discussions involving the stakeholders and vaccine makers. The source also added that what the Trade representative aims for is a friendly negotiation with the concerned individuals to improve the supply chain.
On Wednesday, President Joe Biden said that he will be working on the discussion about the vaccine patent waiver proposal. This follows the country's urge to combat COVID-19 through effective distribution and procurement.
WHO Commends US in Supporting IP Protections
According to Dr. Tedros Adhanom Ghebreyesus, the director-general of WHO, what the US government did in supporting the IP's temporary waiver was commendable on their part.
Dr. Tedros said that the Biden administration's action is a "monumental moment" to battle the ongoing COVID-19 crisis. He praised America's leadership in tackling the global health problem amid many obstacles.
Related Article: Moderna COVID-19 Booster: New Shots Bring Better Protection Against Variants like South Africa, Brazil Strains
This article is owned by Tech Times
Written by Joseph Henry
