EU Opposing Vaccine Intellectual Property Rights to Present Alternatives Next Week

Easing Vaccine and Raw Material Export Restrictions, Utilizing Current Trade Regulations
"Consider Solutions Everyone Agrees On Instead of Fruitless Negotiations"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Cho Hyun-ui] The European Union (EU), skeptical of the vaccine intellectual property rights (IPR) waiver supported by U.S. President Joe Biden, is preparing an alternative. The plan is expected to include various measures to increase vaccine supply without temporarily lifting IPR.

The Wall Street Journal (WSJ) reported on the 3rd (local time) that "the EU is preparing a plan to increase vaccine supply to developing countries while protecting pharmaceutical companies' patent rights, which it plans to submit to the World Trade Organization (WTO) next week."

The draft alternative obtained by WSJ centers on easing export restrictions on vaccines and raw materials, expanding global production bases, and utilizing current trade regulations to invalidate patent rights. It also includes provisions to provide subsidies to expand vaccine production and urges the WTO to oversee export controls.

The draft emphasizes that "a rules-based global trade system can contribute to expanding production and ensuring equitable access to COVID-19 vaccines and treatments."

The EU believes that even if IPR is waived, vaccine production cannot be expanded in the short term, and removing preferential measures for pharmaceutical companies would make it difficult to respond to future new viruses or variants.

Instead of negotiating an IPR waiver, the EU argues that simplifying the WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) provisions would be much faster. TRIPS includes a clause that requires appropriate compensation if IPR protection is suspended to address public health emergencies.

An EU official stated, "It is more reasonable to consider a solution that everyone can agree on rather than engaging in negotiations that will yield no results."

WSJ noted, "The EU's position is similar to that of vaccine manufacturers," adding, "Since President Biden's endorsement, pharmaceutical companies have been lobbying that there are more effective alternatives than an IPR waiver."

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