U.S Faces Fierce Internal Debate on Vaccine IP Waiver as WTO Meets
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
SATURDAY, MAY 28, 2022
SATURDAY, MAY 28, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
U.S Faces Fierce Internal Debate on Vaccine IP Waiver as WTO Meets

World+Biz

TBS Report
05 May, 2021, 07:25 pm
Last modified: 05 May, 2021, 07:38 pm

Related News

  • Biden signs police order on second anniversary of George Floyd's death
  • WHO says no urgent need for mass monkeypox vaccinations
  • US considering $4B additional support for India
  • Bangladesh’s ‘deft’ balancing of US, China and India ties stands out, writes South China Morning Post
  • Quad Summit will review progress of initiatives, says Indian PM ahead of Japan visit

U.S Faces Fierce Internal Debate on Vaccine IP Waiver as WTO Meets

The White House has yet to comment on where they stand on the waiver.

TBS Report
05 May, 2021, 07:25 pm
Last modified: 05 May, 2021, 07:38 pm
The chief trial investigator for the vaccine said that he's optimistic about reaching that point before the end of this year Photo: Bloomberg
The chief trial investigator for the vaccine said that he's optimistic about reaching that point before the end of this year Photo: Bloomberg

The World Trade Organizations' general Council has come together for a two-day meeting to discuss a proposal to waive intellectual property protections on Covid-19 vaccines. 

Initially, the waiver proposal was brought to the table by India and South Africa last October. However, since then approximately 100 countries have shown their support but the issue had been losing momentum as vaccine rich countries continued to block its discussion at the WTO'S Trade-Related Aspects of Intellectual Property Rights (TRIPS) council, states Foreign Policy. 

World health Organization chief Tedro Adhanom Ghebreyesus has recently stated that 1 in 4 people in high-income countries reportedly have been vaccinated whereas in low-income countries, the statistics have shown only 1 in 500 have received a dose. 

Since Joe Biden has been elected as the president of the United States, the discussion of the waiver has been re-opened. During his campaign, when asked about distributing the vaccine technology and disregarding the patent rule, Biden reportedly said that it is "the only humane thing in the world to do." 

Although the White House has been guarded around this matter as they come to their final decision, it is known that Katherine Tai, a U.S trade representative has been involved in discussions with pharmaceutical CEOs and public health advocates, trying to figure out a way forward.

Those who are against the idea of waivers have expressed that it will not be enough to make a difference and will rather discourage pharmaceutical companies from innovating in future projects. They believe that IP concerns are not the strongest obstacles in vaccine making and issues like the shortage in raw materials and the inability to produce vaccines should be prioritized over it.

Supporters of the waiver proposal claim that it would lighten the burdens of producers who are wary of the legal technicalities and help technology transfers take place more efficiently than the ones WHO's COVID-19 Technology Access Pool (C-TAO) has attempted to carry out. 

Proponents also believe that pharmaceutical companies should not be given the authority to decide on vaccine technology and it's production that has been funded and made possible by public investments. 

Reportedly, the Trump administration's Operation Warp Speed had donated $18 billion into vaccines; the CEO of BioNTech and the company which is responsible for the technology behind the Pfizer vaccine has named the EU research and development funding for its success and the National Institutes of Health, the U.S medical research agency has played the most significant role in regards to the therapeutic effects of mRNA.

Currently, statics show that 60 percent of Americans are in favor of the Indian-South African waiver proposal and that President Biden's final decision could possibly be a reflection of that. 

Biden's chief medical adviser, Anthony Fauci, shared his opinions on the matter arguing that even if the approval of the waiver, mass vaccination in low-income countries may be pushed back until 2022 or 2023. 

"I'm telling him to get people vaccinated as quickly as you possibly can. If that means getting billions of doses from companies and getting it to the people in the low- or middle-income countries at a very, very low price that they can afford, do it, and do it now," Fauci stated. "Because if you want to start transferring technology you're going to get it to them a year and a half from now … My only concern is, I care about people getting vaccinated. However you do that, go for it, and do it now."

 

US / Vaccine / Intellectual Property (IP) rights / waivers / World Trade Organization (WTO)

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Plucking the poultry: New tax regime for the sector on cards
    Plucking the poultry: New tax regime for the sector on cards
  • Dr Zahid Hussain. Illustration: TBS
    The economics of remittance subsidy
  • Starlink is ideal in rural or remote locations where internet access has been unreliable or completely unavailable. Photo: SpaceX
    Time for a reality check: How viable is Starlink in Bangladesh?

MOST VIEWED

  • 22 mass shootings. 374 dead. Here's where the guns came from
    22 mass shootings. 374 dead. Here's where the guns came from
  • Japan’s decision comes days after Prime Minister Narendra Modi and his Japanese counterpart Fumio Kishida agreed to enhance bilateral security and defence cooperation, including in defence manufacturing, during a meeting on the margins of the Quad Leaders Summit in Tokyo. (ANI PHOTO.)
    Japan to allow lethal defence equipment exports to India, 11 countries
  • The seized oil tanker Pegas is seen anchored off the shore of Karystos, on the Island of Evia, Greece, April 19, 2022. REUTERS/Vassilis Triandafyllou/File Photo
    Iran seizes two Greek tankers amid row over US oil grab
  • North Korea says new fever cases under 100,000 as virus fight heats up
    North Korea says new fever cases under 100,000 as virus fight heats up
  • The Metropolitan Detention Center (MDC), which is operated by the U.S. Federal Bureau of Prisons, is pictured in Brooklyn, New York, U.S., December 8, 2020. REUTERS/Brendan McDermid/File Photo
    Israeli private detective used Indian hackers in job for Russian oligarchs -court filing
  • William has recruited a dozen global celebrities to join the Earthshot Prize Council to decide the winners Photo: Reuters
    Prince William holds future of British monarchy in his hands

Related News

  • Biden signs police order on second anniversary of George Floyd's death
  • WHO says no urgent need for mass monkeypox vaccinations
  • US considering $4B additional support for India
  • Bangladesh’s ‘deft’ balancing of US, China and India ties stands out, writes South China Morning Post
  • Quad Summit will review progress of initiatives, says Indian PM ahead of Japan visit

Features

Starlink is ideal in rural or remote locations where internet access has been unreliable or completely unavailable. Photo: SpaceX

Time for a reality check: How viable is Starlink in Bangladesh?

40m | Panorama
First Look: Nissan Magnite 1.0L Turbo

First Look: Nissan Magnite 1.0L Turbo

15m | Wheels
Car myths that really need to go away

Car myths that really need to go away

45m | Wheels
The taboo of dining out alone

The taboo of dining out alone

22h | Food

More Videos from TBS

Photo: TBS

Education at Tk1 changing lives, making dreams come true

55m | Videos
Photo: TBS

An electricity bill that connects Brahmanbaria with Tripura

1h | Videos
Chapped lips in summer, why?

Chapped lips in summer, why?

1h | Videos
Fear of food crisis sets across the globe

Fear of food crisis sets across the globe

17h | Videos

Most Read

1
Bangladesh at risk of losing ownership of Banglar Samriddhi
Bangladesh

Bangladesh at risk of losing ownership of Banglar Samriddhi

2
Corporates go cashless…tax cut on cards
NBR

Corporates go cashless…tax cut on cards

3
Photo: Courtesy
Panorama

Misfit Technologies: A Singaporean startup rooted firmly in Bangladesh

4
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

5
British International Investment (BII) CEO Nick O’Donohoe. Illustration: TBS
Economy

BII to invest $450m in Bangladesh in 5 years

6
Representational image. Picture: Pixabay
Economy

Govt raises regulatory duty to discourage imports of 130 products

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab