Pharmaceuticals fall on the stock market after US support to suspend patents on vaccines. Manufacturers see the decision “disappointing”.
The shares of pharmaceutical companies with vaccines against covid-19 such as Pfizer and BioNTech, Moderna or Novavax fell sharply this Wednesday after the announcement that the United States will support the proposal that several countries have presented at the World Trade Organization (WTO) to suspend temporarily the intellectual property of vaccines.
The WHO, in favor, and the pharmaceutical companies, against the proposal to release patents on Biden’s vaccines. In the photo, a health worker prepares a vaccine in a hospital in Brazil.
The US supports the release of patents on vaccines
Immediately after the news was known, the titles of these companies collapsed in the market, although they later managed to partially recover from the lows marked before the end of the trading session on Wall Street.
HISTORIC DECISION
WHO welcomes US support to suspend patents for covid vaccines
For its part, the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) today considered “disappointing” the express support of the US president, Joe Biden, for a suspension of patents on vaccines against covid-19, something that, they assured, “It will not increase dose production.”
Nobel laureates and world ex-presidents call for suspension of vaccine patents
“On the contrary, it can lead to disorganization, ” the global federation of pharmaceuticals said in a statement, indicating that other limitations to the production of doses must be solved “such as the elimination of trade barriers or bottlenecks in the supply of raw materials and other ingredients “.
Pharmaceuticals fall on the stock market after US support to suspend patents on vaccines. Manufacturers see the decision “disappointing”.
The shares of pharmaceutical companies with vaccines against covid-19 such as Pfizer and BioNTech, Moderna or Novavax fell sharply this Wednesday after the announcement that the United States will support the proposal that several countries have presented at the World Trade Organization (WTO) to suspend temporarily the intellectual property of vaccines.
The WHO, in favor, and the pharmaceutical companies, against the proposal to release patents on Biden’s vaccines. In the photo, a health worker prepares a vaccine in a hospital in Brazil.
The US supports the release of patents on vaccines
Immediately after the news was known, the titles of these companies collapsed in the market, although they later managed to partially recover from the lows marked before the end of the trading session on Wall Street.
HISTORIC DECISION
WHO welcomes US support to suspend patents for covid vaccines
For its part, the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) today considered “disappointing” the express support of the US president, Joe Biden, for a suspension of patents on vaccines against covid-19, something that, they assured, “It will not increase dose production.”
Nobel laureates and world ex-presidents call for suspension of vaccine patents
“On the contrary, it can lead to disorganization, ” the global federation of pharmaceuticals said in a statement, indicating that other limitations to the production of doses must be solved “such as the elimination of trade barriers or bottlenecks in the supply of raw materials and other ingredients “.
Leon Cooper was born and raised in Vancouver. As a Reporter for MountainGroveNewsJournal, Leon has contributed to several online publications including Dream House Publications and Granville Magazine. In regards to academics, Leon has got a Post Graduation Degree in Department Of Archaeology from The University Of British Columbia. As a Reporter for MountainGroveNewsJournal Leon Covers International Topics.