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News & Trends - Pharmaceuticals

Pharma industry disappointed over patent waiver for COVID-19 vaccines

Health Industry Hub | May 7, 2021 |

Pharma News: Medicines Australia continues to express sympathies to those impacted by the pandemic and acknowledges the importance of global access to lifesaving vaccines and treatments.

“The US Government’s decision to support a patent waiver on COVID-19 vaccines will not increase vaccine production nor increase the rate of vaccination in poorer countries,” Medicines Australia said in a statement.

“The Biden Administration’s decision undermines the hard work of the global vaccine efforts. Safe, effective vaccines require robust partnerships that need to be supported by the international intellectual property system.”

Medicines Australia echoed the statements released by International Federation of Pharmaceutical Manufactures & Associations (IFPMA) and Pharmaceutical Research and Manufacturers of America (PhRMA).

The IFMPA commented “The decision of the US administration to support a patent waiver for COVID-19 vaccines is disappointing. The international intellectual property system has given companies confidence to engage in more than 200 technology transfer agreements to expand delivery on COVID-19 vaccines based on unprecedented partnerships between vaccine industrialised and developing country vaccine manufacturers. The only way to ensure quick scaling up of and equitable vaccine access to all those in need remains pragmatic and constructive dialogue with the private sector.”

According to Medicines Australia, high vaccination rates globally will be achieved by supporting innovative COVID-19 vaccines and treatments, not by weakening the ecosystem of research and development (R&D) partnerships underpinned by the current Intellectual Property (IP) protections that brought them to communities around the world.

The innovative biopharmaceutical sector has rapidly developed safe and effective vaccines due to its scientific expertise, willingness to take financial risks, and a strong framework for the protection of IP.

Medicines Australia acknowledged the unprecedented dedication and determination of its members in addressing COVID-19. Some of them are also members of IFPMA which is a founding partner of the ACT Accelerator and heavily engaged in the COVAX pillar, through which vaccines will be made available in 92 low-and middle-income countries regardless of their ability to pay.


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