Pfizer warns of short-term effect if patents are canceled Patent

Pfizer warns of short-term effect if patents are canceled Patent
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suspension for covid-19 vaccineswill lead to a shortage of raw materials, drug manufacturing companies will not be able to fulfill their obligations to supply the required doses of the drug,considers a representative of Pfizer Pfizer PFE$40-0,25% Buy

The managing DIRECTOR of the American company Pfizer in the UK, Ben Osborne, criticized the idea of ​​giving up patent rights on CORONAVIRUS vaccines. He believes that this will cause a shortage of raw materials, writes The Times.

Suspension of drug intellectual property rights will only have a short-term effect, Osborne said. "This will allow any organization to start purchasing some of the key raw materials in multiple countries," a Pfizer spokesman said. He suggested that this would result in incumbent vaccine manufacturers such as British-Swedish ASTRAZENECA and US Moderna failing to meet their dose production and supply obligations.

A similar point of view was previously expressed by Pfizer CEO Albert Burla. In an open letter to company employees, he warned that abandoning patents would lead to a shortage of raw materials and "set off a fight for the critical resources needed to create a safe and effective vaccine." Burla fears that the raw materials needed to ramp up drug production will go to organizations with little or no experience in vaccine production, jeopardizing people's safety.

WHO chief announces 'significant moment' in fight against coronavirus Society

The World HEALTH Organization (WHO) and the World Trade Organization (WTO) have called for suspension of patent rules for those vaccines that are approved for emergency use.

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