Biotechnology industry regrets WTO decision on patent suspensions
The German biotechnology industry association BIO Deutschland regrets the decision by the WTO to temporarily suspend patent protection for COVID19 vaccines in certain countries.
Oliver Schacht, CEO of BIO Deutschland comments, "The suspension of patent protection for COVID19 vaccines will not really bring us any closer to the goal of rapid availability and, more importantly, administration of these vaccines in developing countries. The production of the vaccines is complex, needs a lot of know-how and stable supply chains. In order to achieve a high vaccination rate locally, an appropriate infrastructure and a high level of acceptance among the population are also necessary. This is the main area where efforts should be made to increase vaccination rates. The suspension of patent protection, on the other hand, is a fatal signal for innovative companies and their investors."
You will also find a commentary on this by Oliver Schacht in his capacity as Chair of the International Council of Biotechnology Assiociations (ICBA) here:https://internationalbiotech.org/icba-views-misguided-ip-waiver-as-block-to-innovation-and-ineffective-in-addressing-covid-19-pandemic/