World Bank opposes vaccine intellectual property waiver as WTO talks resume
India Today
World Bank President David Malpass has said the bank does not support waiving intellectual property rights for Covid-19 vaccines as it may hamper innovation in the pharmaceuticals sector.
World Bank President David Malpass said on Tuesday the bank does not support waiving intellectual property rights for Covid-19 vaccines at the World Trade Organization out of concern that it would hamper innovation in the pharmaceuticals sector. His comments on the subject, made during a call with reporters on World Bank economic forecasts, came as WTO negotiations over the proposed waiver resumed in Geneva. Asked whether he backs a WTO vaccine IP waiver, which India, South Africa and other emerging market countries argue is needed to expand vaccine access, Malpass said: “We don’t support that, for the reason that it would run the risk of reducing the innovation and the R&D in that sector.”
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