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President Biden announces support for ending vaccine patents, angers pharm companies
Posted on 5/5/21 at 7:57 pm
Posted on 5/5/21 at 7:57 pm
CNBC article
quote:
The Biden administration announced Wednesday that it supports waiving intellectual property protections for Covid-19 vaccines, as countries struggle to manufacture the life-saving doses.
quote:
Stocks of major pharmaceutical companies that have produced vaccines, including Moderna, BioNTech and Pfizer, dropped sharply after news of the potential waivers first broke. Pfizer ended its trading day flat, while Moderna lost 6.1%; Johnson & Johnson shed a modest 0.4%. The Pharmaceutical Research and Manufacturers of America expressed pointed opposition to the Biden administration's support for waiving IP protections. The trade group's members include vaccine makers such as AstraZeneca, Pfizer and Johnson & Johnson.
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