The US, UK and the EU countries have reportedly blocked India and South Africa's move to ban COVID-19 vaccine patents at the WTO (World Trade Organization). The proposal was vehemently opposed on the grounds that such a ban would stifle innovation at pharmaceutical companies by robbing them of the incentive to make huge investments in research and development.
US, UK, EU Block India & South Africa's Move To Ban COVID-19 Vaccine Patents At WTO
An IP waiver by the WTO would have made it easier for developing countries to produce COVID-19 vaccines and drugs. Wealthy countries opposed the move, arguing that a suspension of patents would stifle innovation.
The WTO talks on a proposal by India and South Africa to temporarily suspend intellectual property (IP) rules related to COVID-19 vaccines and treatments hit a roadblock on Thursday after wealthy countries balked at the idea, Germany's ...
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