Why Pharma Companies Should Share Their Vaccine Patents
A lot of tax money goes in the research of vaccines, but the profits are only taken in by that particular pharma industry. For maximum profit, the pharmaceutical companies keep their patents under supervision (do not share their vaccine patents), which prevents the production of enough vaccines at that time. In response to this, international health experts are demand, in times of crisis. The pharma industry needs to make its patents public. This would enable manufacturers around the world to produce vaccines faster and in greater quantities to reach the desired quantity. Developing new drugs requires huge amounts of investment.
For instance, COVID vaccines are on its way to reduce or eliminate the pandemic. Also, finally helps us return to our normal lives. But vaccines are extremely limited in quantity. Therefore collaboration is required to increase the supply of vaccines and develop a global approach for defeating the virus around the globe.
A lot of public research money has been spent into the development of the Covid vaccines. International health experts are demanding that pharmaceutical companies should now share their patents. This would allow several manufacturers around the world to start production and produce more Covid vaccine doses at a faster pace. Passing on patents is absolutely justified in an exceptional situation such as a pandemic. The fact that governments pay huge sums to private companies, without any strings attached, is a major policy failure. The World Health Organization (WHO) called on pharmaceutical companies to share their data and patents back in May 2020. But to this day, not a single company has released its rights. Those who share patents for the Covid vaccine might lose a part of their profits.
The pharmaceutical companies are keeping their research results as a secret and do not share their vaccine patents because they are trying gain as much profit as possible from the Covid-19 pandemic. The governments are chasing after the private companies with billions instead of holding them accountable. Profit interests seem to be more powerful than the health interests of the people.
