Global Justice campaigners in London stand by fake coffins to highlight global COVID-19 deaths. If pharma companies waived intellectual property rights, it would be easier for low- and middle-income countries to access COVID-19 vaccines.
(AP Photo/Alastair Grant)
Ronald Labonte, L’Université d’Ottawa/University of Ottawa
Waiving patent rights on COVID-19 vaccines and drugs is still crucial to ensure access globally, but the waiver on the table at the June World Trade Organization meeting doesn’t do the job.
The Coalition planned to tax company income from patents at 17% instead of 30%. While it would have lifted the number of patents, there’s little to suggest it would have lifted productivity.
Drug repurposing can redeem failed treatments and squeeze out new uses from others. But many pharmaceutical companies are hesitant to retool existing drugs without a high return on investment.
Just as access to vaccines was vastly more difficult for low-income countries, the same is now true for the virus’ treatments: at potentially great cost to the world.
CORBEVAX uses recombinant DNA technology that many countries already have the infrastructure to produce.
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Moderna claims its scientists alone invented the mRNA sequence used to produce its COVID-19 vaccine. The US government, which helped fund the drug, disagrees.
New Zealanders won’t see the full text of the UK free trade agreement until it is signed, meaning it will proceed without open public debate – despite locking in constraints on future governments.
The decision is supported by the government’s policy environment in recent years. This has aimed to increase innovation, and views technology as a way to achieve this.
Innovation in food systems and agricultural research is critical for African countries.
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Lowering the tax rates on profits from patents registered in Australia is unlikely to increase local research and development. But it will be a gift for multinationals.
Much remains to be resolved before the waiver is translated into increased vaccine supply.
A COVID-19 surge has pushed hospitals in India beyond their capacity. A stadium in New Delhi was being used as a makeshift ward on May 2, 2021.
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It’s not clear whether the TRIPS agreement is what’s getting in the way of vaccine supply, and waiving intellectual property rights may stifle future innovation.