Expanding TRIPS waiver would jeopardize biopharmaceutical research and development

The United States has led the charge in thedevelopment of vaccines and treatments to combat COVID-19 thanks in large part to our robust innovation ecosystem, supported by intellectual property (IP) protections. The decision made by the Biden Administration and other WTO members earlier this year to waive commitments to protect IP on COVID-19 vaccines under the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement washarmful and unnecessary and removed the very incentives that enable scientific advancement. Expanding the TRIPS waiver to include COVID-19 treatments — as some WTO members wish to do — would jeopardize American innovation and our ability to prepare for future pandemics.
Source: The Catalyst - Category: Pharmaceuticals Authors: Tags: Research and Development Intellectual Property TRIPS Waiver Source Type: news