Profits in the pharmaceutical industry are protected by a secure environment that guarantees the manufacturers to have more money until they run out. On Wednesday, Joe Biden violated U.S. ethics for years and took a deep breath.
His leadership election supporting the temporary abolition of the legal status of the Covid-19 vaccine provoked outrage during the treatment, which claims that the move has escalated beyond their intellectual property rights and has undermined US ability to export services.
“Personal technology is a part of biotech technology, it’s like a breeze to our work,” says Brad Loncar, an environmentalist. “Once you remove it, you have no natural component.”
Katherine Tai, chief marketing consultant, said that although the US government “strongly believes in” intellectual property protection, it is helping to lower the standard of living. Covid-19 vaccine to help promote to promote global jabs.
This move comes as in other countries, inclusive India, are struggling to cope with rising tides as some have developed a successful vaccine that drives disease, hospitalization and death.
The recommendation was submitted to the World Trade Organization in October and has so far been supported by more than 60 countries that say the global vaccine needs to be expanded to catch the virus. Washington’s support shows the crucial role for the request, and Tai said the US would hold talks to explain what will be written in the WTO.
Tedros Adhanom Ghebreyesus, WHO chief executive, told the Financial Times that the decision was “extremely serious” against Covid-19 disease. “I am not surprised by this announcement. This is what I expected from President Biden. ”
However, the pharma industry did not expect it; The US has been strongly defending corporate rights in the industry. Industry leaders have described the move as a major blow to new technologies that will not help boost global jobs because there is a shortage of raw materials and skilled workers.
“The process here is both costly and costly,” said Jeremy Levin, chairman of Biotech Bio. “Acquiring early vaccination may not be the result, but worse, it shows that companies that have developed new technologies will threaten to get rid of them.”
The share of major Covid-19 vaccine manufacturers was affected by the announcement. Stocks reported in Frankfurt at BioNTech lost 14% on Thursday. Moderna and Novavax closed between 3% and 6% in New York yesterday.
Sven Borho, a partner at OrbiMed Advisors, a pharmaceutical company, said pharma regulators who feared the move to regulators have put in place measures to help stop patents in the future.
“He’s worried for a while that the foot is on the door – ‘Well, we did with Covid-19, let’s deal with the next problem, and the next one,'” he said. “And suddenly it is a cancer treatment certificate that needs to be approved. He fears that it is the way that will determine the future. ”
Peter Bach, director of the Memorial Sloan Kettering’s Center for Health Policy and Outcome, said there was a trade-off that could increase the risk of developing the epidemic so that drug manufacturers could be more cautious when trying to pioneer in the future.
“If this will help more people to access opportunities and save more people today by 2021 and the consequences are on the way we may not be able to have new genetic drugs for 100 children, then it is a work that needs to be discussed,” Bach said. .
The trade rights struggle is the first major international legal crisis since the crisis over drug trafficking between several countries including Brazil and South Africa in the late 1990’s.
The countries affected by the epidemic want to develop their own version of the HIV drug but the companies that make it define the process as a breach of contract, leading to more cases that have hampered efforts to get cheaper pills.
Manufacturers of pharmaceutical companies say that suspending the Covid-19 vaccine in order to encourage foreign production could jeopardize US jobs. The leadership of Donald Trump strongly opposed last year.
Levin said US technology “could create jobs in the United States but if you move abroad it would be a huge waste of work. [here]”.
The mRNA technology used in the BioNTech / Pfizer and Moderna vaccine is being tested to rule out other diseases such as cancer and heart disease, and pharma lobbyists have said suspending their patents would allow other countries to join U.S. research.
Remote effects are not well known. Umer Raffat, a researcher at Evercore ISI, said the exemption was not permanent, and that other prominent players, including the EU and UK, had not yet complied with Biden’s move.
Borbi of OrbiMed said: “This is unique. I think in the end there will be only a small number of vaccines for the Covid-19 vaccine. I don’t think Biden’s administrators want to downplay Biotech or Pharma patents.”
Advocates praised the US government’s idea of playing a key role in promoting the global Covid-19 vaccine.
“Pharmaceutical companies say the epidemic is not the time to do business as usual,” said Zain Rizvi, an opportunity to find medical experts at Public Citizen. “They are getting billions in taxes, [vaccine makers] they have the necessary culture to resolve conflicts that seek to develop. . . making. ”
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