BIA reacts to WTO ministerial conference on IP TRIPS Waiver
Commenting on the decision by the WTO World Trade Organization (WTO) Ministerial Conference (MC12) to endorse a TRIPS waiver for COVID-19 vaccines, Steve Bates OBE, Chief Executive of the BIA said:
“The new WTO agreement will make it far harder for innovative small biotech companies to raise finance to develop their innovations against the next threat and does nothing to solve the immediate access to vaccines challenges the globe faces. It incorrectly points to intellectual property as a barrier to the pandemic response rather than an enabler bringing healthcare solutions, safely and quickly to patients.”
Commenting on the UK government’s overnight U-turn on his he said;-
“The UK’s ambition to become a life science superpower has been damaged by the UK government’s last-minute volte face on Intellectual property.
“Rather than use its new freedom as an independent voice post Brexit at the WTO to take the scientific and evidence led approach, in the end the UK government caved in, meekly signing up to the EU’s text, that does nothing to solve the practical problems of ensuring access to COVID-19 vaccines around the world.”