The two European statements emphasised the challenges of winning critical EU support for securing the patent waivers. The European Union is one of the world’s largest producers, exporters and consumers of vaccines. Pharmaceutical companies around the world have also opposed patent waivers, which could cut into profits after large investments on developing vaccines. That could mean donating more vaccine doses or selling them on a not-for-profit basis. In addition to the European Union, countries like Britain, Japan and Switzerland have also expressed reluctance to waive vaccine patents.

Source: bd News24 May 07, 2021 08:37 UTC