Patent rights on COVID-19 vaccines may be waived for five years
The HinduIntellectual property rights held by international pharmaceutical companies on COVID-19 vaccines may be relaxed for up to five years, according to a proposal by the European Union in the backdrop of a festering two-year-old dispute at the World Trade Organisation involving India, U.S., South Africa and the EU. This reprieve will, however, not apply to COVID-19 drugs and diagnostic devices, though the EU proposes a “discussion” on this in the next six months and also rebuffs India’s original demand for a complete waiver on intellectual property restrictions on covid therapeutics. Though India, along with South Africa, was among the proponents of the original waiver in 2020, it is unclear to what extent this proposal will benefit Indian manufacturers, who have in the last year, not only entered into licensing arrangements with global pharmaceutical companies but also developed indigenous vaccines. “It should coer bother patented and products pending patent applications.The WTO Secretariat is notorious for its support of US and EU positions and consequently misleaing and inaccurate legal analyses.India shouldn’t agree to any text until it has been fully vetted and endorsed by India’s technical experts,” said the letter on 18th February.