Pfizer Opposes Vaccine IP Waiver, Citing Concerns Over Raw Material Supply Disruptions

Albert Bourla Pfizer CEO Raises Concerns Over Raw Material Supply Shortage
Two Days After US Government Supports Intellectual Property Waiver, Opposing Views Emerge

[Asia Economy Reporter Han Jinju] As the controversy over waiving intellectual property rights for COVID-19 vaccines accelerates, Pfizer has warned that if it relinquishes its IP rights, a bigger problem will arise due to competition for securing raw materials. This comes just two days after the Biden administration announced its support for waiving IP protections.

On the 7th (local time), according to CNBC and others, Albert Bourla, CEO of Pfizer, stated in a letter to colleagues posted on LinkedIn, "I firmly believe it will cause even more problems," adding, "There is a risk of disruption to the raw material supply chain."

He expressed concern, saying, "It will trigger a scramble for critical raw materials essential for us to produce safe and effective vaccines," and "Companies with no or limited vaccine manufacturing experience will be chasing the very raw materials we need, putting all safety at risk."

Pfizer's COVID-19 vaccine is made using 280 materials and ingredients sourced from 19 countries. He pointed out, "The current bottleneck in increasing vaccine production is not infrastructure but a shortage of raw materials necessary for our vaccine production."

He also noted that waiving vaccine IP rights could dampen companies' investment incentives. CEO Bourla said, "It will discourage other companies from taking risks," adding, "Recent statements about (IP waiver) will not diminish our ongoing commitment to scientific investment, but I cannot be sure the same applies to thousands of small biotech innovators who rely entirely on investor capital." He further added, "Investors only invest on the premise that IP rights will be protected."

CEO Bourla revealed that he held a remote meeting last week with the U.S. Trade Representative (USTR) regarding vaccine issues. Proposals to waive IP protections have emerged as many countries, including developing nations like India, face a resurgence of COVID-19 and vaccine shortages. While the U.S. supports the waiver, EU countries have expressed relatively cautious positions. Germany, the home country of BioNTech, which developed the Pfizer vaccine, has publicly opposed the IP waiver demand.

This content was produced with the assistance of AI translation services.