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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.
Posted on 5/5/21 at 7:58 pm to loumiz
Biden fricking people again... shocker. He’s been doing it for over 50 years.
Posted on 5/5/21 at 8:01 pm to loumiz
Ending vaccine patents isn't going to entice companies to invest in hundreds of millions of dollars and years of research into a vaccine. Surefire way to practically end vaccine developments.
Posted on 5/5/21 at 8:02 pm to loumiz
Wasn't this always the risk since our government funded all the research to the tune of hundreds of billions of dollars?
Posted on 5/5/21 at 8:27 pm to Kino74
quote:
Ending vaccine patents isn't going to entice companies to invest in hundreds of millions of dollars and years of research into a vaccine. Surefire way to practically end vaccine developments.
quote:
Search domain patent.laws.comLINK
The United States Constitution gave the power to Congress to create laws pertaining to patents. Under Article I, section 8, it reads, "Congress shall have power… to promote the progress of science and useful arts, by securing for limited times to authors and inventors the exclusive right to their respective writings and discoveries."
Government could give away their share of ownership of the patent. If they did more than that, it would be taking. It would definitively be a case of demprogs killing and eating the goose that lays gold eggs.
This post was edited on 5/5/21 at 8:29 pm
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