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The pharmaceutical industry fears that the Biden patent movement will set a dangerous precedent
Profits in the pharmaceutical industry are backed by a patented fortress, which guarantees doctors an income until it expires. On Wednesday, Joe Biden broke with decades of U.S. orthodoxy and cracked a wall.
Of his administration decision The temporary waiver of the Covid-19 vaccine patent has sparked immediate outrage in the pharmaceutical sector, saying the move goes beyond intellectual property rights and will prevent U.S. innovation when jobs are sent abroad.
“Intellectual property is the lifeblood of biotechnology, it’s like oxygen to our industry,” said Brad Loncar, a biotechnology investor. “If you remove it, you don’t have a biotech sector.”
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