Shares in major vaccine makers have fallen since the U.S. announcement, with Pfizer and Moderna respectively down 3.45% and 3.19% in premarket trading at the time of writing. Key Background
The U.S. and the EU are among the world’s staunchest defenders of intellectual property rights and the decision to consider waiving protections is a major policy change. An intellectual property waiver would allow other companies around the world to access the information needed to make their own vaccines and allow them to do so legally.
. India and South Africa have been leading international calls for an easement to patent protection throughout the pandemic, something wealthy nations like the U.S., the EU, Japan, Australia and the U.K. have at one point opposed. Though intellectual property rights frequently feature in trade discussion, calls for relaxing them during the Covid crisisThe World Trade Organization is set to meet again Thursday and discuss the proposals.
Pharmaceutical companies need to be taken off the stock markets & nationalized.
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