Latest World News: As extraordinary times call for extraordinary measures, U.S has decided that it will waive off intellectual property rights of COVID-19 vaccines, as suggested by India and South Africa at World Trade Organization a couple of months back.
As pressure from developing countries and liberal progressive democratic politicians within White House kept mounting to help nations that are currently getting ravaged by the COVID-19 infections. As many as 100 U.S lawmakers wrote a letter to President Joe Biden supporting an IP waiver even though an equal number of lawmakers that are backed by pharmaceutical companies opposed to the waiver.
U.S Trade Representative Katherine Tai who announced the waiver on Intellectual Property rights, said in a statement that extraordinary times call for extraordinary measure. The administration firmly believes in protecting such intellectual rights of an individual or an organization but in service to end this pandemic it is considering such an option as necessary.
As vaccine demands for American citizens are already met the U.S administration will work with private sectors to expand vaccine manufacture and distribution. And, will work to ensure availability of raw materials for vaccines, Tai’s statement said.
This decision to waive off does not mean vaccine productions and availability will be available in billions anytime soon. Hard negotiations have to stricken with leading vaccine manufacturers to convince them to share vaccine formulas with other reliable mass producers around the world, or to set up facilities that mass produce vaccines.
But the decision to waive-off vaccine patent rights is a good start and gives certain optimism that vaccines will be made available soon.