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Germany hits back at US patent waiver proposal for Covid-19 vaccines
(REUTERS/Tiksa Negeri)
Germany has rejected the Covid-19 vaccine patent proposal today, urging that production capacity is key to boosting vaccine output.
The country’s health minister said the primary challenge to increasing production volumes of vaccines is quickly and effectively transferring technology.
“The main issue is not patent protection but production capacity,” Jens Spahn, said at a news conference today.
“I would be delighted if the United States shows the same willingness to export vaccines that we in Germany do,” Spahn added.
The US’s patent proposal seeks to waiver patent protections that vaccines would typically receive, in hopes that manufacturing would pick up speed if restrictions on who can make what was eased.
US SUPPORTS PLAN TO SCRAP JAB PATENTS
The Biden administration is throwing its support behind efforts to waive intellectual property protections for COVID-19 vaccines in an effort to speed the end of the pandemic.
United States Trade Representative Katherine Tai announced the government s position in a Wednesday statement, amid World Trade Organization talks over easing global trade rules to enable more countries to produce more of the life-saving vaccines. The Administration believes strongly in intellectual property protections, but in service of ending this pandemic, supports the waiver of those protections for COVID-19 vaccines, Tai said in the statement.
But she cautioned that it would take time to reach the required global consensus to waive the protections under WTO rules, and U.S. officials said it would not have an immediate effect on the global supply of COVID-19 shots.
Last modified on Fri 7 May 2021 00.24 EDT
Shares in pharmaceutical companies fell sharply after the US government threw its weight behind global plans for a patent waiver on Covid-19 vaccines to boost their production and distribution around the world.
Shortly after the US declared its support for the intellectual property (IP) waiver, which still has to be approved by the World Trade Organization, shares in Chinese and American vaccine makers tumbled.
The Hong Kong-listed shares of CanSino Biologics, which makes a single-dose Covid-19 vaccine, were down nearly 22% at one stage, while its Shanghai shares lost 17%. Fosun Pharma, which distributes the BioNTech vaccine, fell by up to 18% in Hong Kong.
Covid crisis: UK industry body rallies to help India
Covid crisis: UK industry body rallies to help India
TIMESOFINDIA.COM | May 6, 2021, 00:10 IST
Lord Karan Bilimoria
Apex British industry body Confederation of British Industry (CBI) , which represents 190,000 businesses employing 7 million people in the UK, is supporting India in the light of the devastating health crisis which has been unfolding over the past weeks.
“From April 26, I have been working personally with my team at the CBI on an urgent basis, reaching out to our members as well as members of over 200 leading trade associations to stand in solidarity with India. The business community in the UK has stepped up to support this cause and the generosity and willingness to help has been immediate,” Lord Karan Bilimoria, British Indian entrepreneur and president of CBI told timesofindia.com.