US U-turn could see coronavirus vaccine patents set aside

To the surprise of many, the US government has backed a World Trade Organization (WTO) proposal to disclaim certain intellectual property (IP) rights to coronavirus vaccines, after previously opposing it.

The temporary waiver could enable developing countries to manufacture COVID-19 vaccines which were developed by drugmakers such as Pfizer (NYSE: PFE) and Moderna (Nasdaq: MRNA), without falling foul of patent law.

US Trade Representative Katherine Tai said the Biden administration “believes strongly in intellectual property protections, but in service of ending this pandemic, supports the waiver of those protections for COVID-19 vaccines.”