EU supports COVID-19 vaccine patent waiver talks, but critics say won't solve scarcity

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 66%

Singapore Headlines News

Singapore Latest News,Singapore Headlines

BRUSSELS :The European Union is willing to discuss a proposal to waive intellectual property rights for COVID-19 vaccines, European Commission ...

BRUSSELS/NEW YORK -The European Union on Thursday backed a US proposal to discuss waiving patent protections for COVID-19 vaccines, but drugmakers and some other governments opposed the idea, saying it would not solve global inoculation shortages.

WTO Director-General Ngozi Okonjo-Iweala told member states that she"warmly welcomed" the US move."We need to respond urgently to COVID-19 because the world is watching and people are dying," she said.World Health Organization chief Tedros Adhanom Ghebreyesus reached for capital letters in a tweet calling Biden's move a"MONUMENTAL MOMENT IN THE FIGHT AGAINST #COVID19," and said it reflected"the wisdom and moral leadership of the United States.

Germany, the EU's biggest economic power and home to a large pharmaceutical sector, rejected the idea, saying vaccine shortages were due to limited production capacity and quality standards rather than patent protection issues. The pharmaceutical industry's main lobbying group, PhRMA, said:"This decision does nothing to address the real challenges to getting more shots in arms, including last-mile distribution and limited availability of raw materials."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in SG

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EU 'ready to discuss' COVID-19 vaccine patent waiver as drugmakers push backThe European Union is willing to discuss a proposal, now backed by the United States, to waive intellectual property rights for COVID-19 vaccines, ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Key EU countries rebuff Biden on sharing COVID-19 vaccine patentsEuropean countries distanced themselves on Friday from a proposal backed by U.S. President Joe Biden to waive patent rights on coronavirus ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

AstraZeneca reaches COVID-19 vaccine shipping milestone as EU sues againAstraZeneca has delivered 50 million doses of its COVID-19 vaccine to European Union countries, according to EU supply data, a milestone the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

China healthcare shares surge after COVID-19 vaccine patent waiver plan meets EU resistanceSHANGHAI: Shares of Chinese healthcare firms soared on Monday (May 10), rebounding from last week's drubbing after a US proposal to waive patents ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Pfizer sees robust COVID-19 vaccine demand for years, US$26 billion in 2021 salesPfizer on Tuesday (May 4) raised its forecast for 2021 COVID-19 vaccine sales by more than 70 per cent to US$26 billion and said demand from ... 輝瑞疫苗賺大錢了!
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »