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If Covid-19 Vaccine Patents Are Waived, Legal Options For Drug Firms Are Limited By Ian Lopez and Tina Davis | May 7, 2021
A potential World Trade Organization waiver of patent and trade secret protections for Covid-19 vaccines would leave pharmaceutical companies with limited legal avenues to recover costs.
The U.S. on Wednesday expressed support for a temporary waiver, sending shares in several vaccine makers down the next day. The issue now faces thorny negotiations at the WTO, where several members, including Germany, have opposed efforts to skirt intellectual property rights. They say it would only complicate production and make companies less likely to respond in the future.
by Tyler Durden
Friday, May 07, 2021 - 02:29 PM
Now that Germany has broken with the US over the question of whether to back a waiver for COVID vaccine IP that s been proposed at the WTO, pharmaceutical giants like Pfizer that were planning on COVID-19 vaccines becoming a permanent revenue stream are seeing their opportunities for profit threatened. The proposal would require the support of other major developed nations to pass, and it s unclear whether it will or not. But if it does, pharmaceutical companies who see their IP compromised would have limited options for recourse.
Matthew Howell, an IP attorney at Alston & Bird in Atlanta told Bloomberg that companies like Pfizer and Moderna might sue the US to recover some of their losses. Since manufacturing the vaccine is done in the US, the companies could take certain avenues for compensation in American courts. But that would likely only cover a fraction of their potential losses.