No Agreement Reached on Waiving IP Rights for COVID Vaccines, WTO

World Trade Organization’s proposal to temporarily waive intellectual property rights for coronavirus vaccines failed again

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Key opponents to the proposal include the European Union, Japan and South Korea.

World Trade Organization’s proposal to temporarily waive intellectual property rights for coronavirus vaccines failed again

The World Trade Organization has failed again to agree on a proposal to temporarily waive intellectual property rights for coronavirus vaccines. 

Key opponents to the proposal include the European Union, Japan and South Korea.  This comes as a new study by the People’s Vaccine Alliance finds the cost of vaccinating the world would be five times cheaper if vaccine manufacturers weren’t making billions in profit. 

The alliance estimates Pfizer-BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production.

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