Biden backs waiving Covid-19 vaccine patents, angering drug firms
WASHINGTON: President Joe Biden on Wednesday threw his support behind waiving intellectual property rights for Covid-19 vaccines, bowing to mounting pressure from Democratic lawmakers and more than 100 other countries but angering pharmaceutical companies.
Mr Biden voiced his support for a waiver - a sharp reversal of the previous US position - in remarks to reporters, followed by a statement from his top trade negotiator, Ms Katherine Tai, who backed negotiations at the World Trade Organisation.
"This is a global health crisis, and the extraordinary circumstances of the Covid-19 pandemic call for extraordinary measures," Ms Tai said in a statement, amid growing concern that big outbreaks in India could allow the rise of vaccine-resistant strains of the deadly virus, undermining a global recovery.
The head of the World Health Organisation, Dr Tedros Adhanom Ghebreyesus, called Mr Biden's move a "monumental moment" in the fight against Covid-19 on Twitter and said it reflected "the wisdom and moral leadership of the US".
Pharmaceutical companies working on vaccines have reported sharp revenue and profit gains during the crisis.
The industry's biggest lobby group warned that Mr Biden's unprecedented step would undermine the companies' response to the pandemic and compromise safety.
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One industry source said US companies would fight to ensure any waiver agreed upon was as narrow and limited as possible. Wednesday's statement paved the way for what could be months of negotiations to hammer out a specific waiver plan.
Ms Tai cautioned that deliberations would take time, but that the US would also continue to push for increased production and distribution of vaccines around the world. - REUTERS
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