Amazon Quiz: Which of these organizations recently agreed to temporarily lift patents...?
Amazon Quiz: Which of these organizations recently agreed to temporarily lift patents on COVID-19 vaccines?
On June 18, the World Trade Organization decided to temporarily lift patents on COVID-19 vaccines after two years of continuous negotiations. The delayed move, according to experts, will have no significant positive effect.
The deal allows developing countries to manufacture COVID-19 vaccines for five years "without the consent of the right holder," AFP reported.
Under the terms of the agreement, members of the organization have six months to decide if they wish to extend the measures "to cover the production and supply of COVID-19 diagnostics and therapeutics."
However, the deal has garnered criticism from several experts, including Jerome Martin, the co-founder of the Drug Policy Transparency. Martin highlighted that the agreement only pertains to developing or third-world nations.
"This does not correspond to the initial request. We have to see what it does in the field, but it is not ambitious at all," he said.
WTO's agreement was also criticized by trade association IFPMA, which said that "dismantling" patent protections would create challenges in innovation.