Merkel says vaccine patent waiver ‘not the solution’ World News

Pfizer’s chief executive, Albert Borla, said Friday that the proposed waiver would hamper progress so far in increasing vaccine supply.

To create a safe and effective vaccine, we need to meet the critical input we need. Companies with little or no experience in developing vaccines may have to pursue the raw materials we need to measure in our production, which puts everyone’s safety and security at risk.

Many companies, and now some US officials, fear that the move will help China jump on the bandwagon of years of research and erode US profits in biopharmaceuticals.

A senior Biden administration official said that while the priority was to save lives, the United States had to “examine the impact of the waiver on China and Russia before making sure it was suitable for that purpose.”

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The contents of the document were read out to a Reuters reporter by an industry representative who said the Biden administration believed it could address these concerns through WTO negotiations but did not elaborate. ۔

The sources added that there were conflicting views among some agencies in the Biden administration on how to resolve the concerns in the talks, which were expected to take months.

The White House and the US Trade Representative’s office did not immediately return calls seeking comment.

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