COVID-19 Pandemic Brings to Light Record Pharma Profits and Promotes Discussions on Global Intellectual Property Agreements

As the COVID-19 pandemic continues, pharmaceutical companies report revenue in the billions. Co-Founder of the Initiative for Medicines, Access & Knowledge Tahir Amin calls for sweeping global changes, including postponing booster shots in wealthy countries and allowing local companies to use mRNA vaccine technology covered by intellectual property (IP) agreements.

Amin remarks, “All wealthy countries—namely the EU and U.K.—must agree to South Africa and India’s joint proposal to suspend enforcement of IP for all medical technologies that can be used to combat the virus while the pandemic lasts. This will allow other manufacturers who have the capability and capacity the opportunity to make vaccines and other potential treatments to increase the supply to protect the rest of the world.” Read more here.

(Source: Tahir Amin, Barron’s, 8/11/21)