World Bank Opposes Vaccine Intellectual Property Waiver As WTO Talks Resume

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.”

The comment puts Malpass, a Trump administration nominee, at
odds with the Biden administration, which is supporting text-based
WTO negotiations for vaccine intellectual property rights, led by
U.S. Trade Representative Katherine Tai.

Major vaccine makers and the pharmaceutical industries have
opposed the waiver from the WTO’s agreement on Trade-Related
Aspects of Intellectual Property Rights (TRIPS), arguing that it
would stifle innovation and do little to effectively increase
vaccine supplies constrained by trade barriers, shortages of
components and a lack of manufacturing capabilities.

Malpass on Tuesday reiterated his calls for wealthy countries to
quickly donate their excess vaccine doses to the developing world
as quickly as possible. read & comment now

The World Bank said its global growth forecasts, raised to 5.6%
for 2021 and 4.3% for 2022, could be higher if vaccinations can be
accelerated in developing countries. read & comment now

In Geneva, negotiations were proceeding on Tuesday and Wednesday
over revised waiver proposals from India and South Africa that
remained far broader than the narrow vaccine-only waiver favored by
USTR Tai.

“It seems to be they are still far apart. Their positions have
not fundamentally changed,” a Geneva-based trade official told
Reuters.

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.”

The comment puts Malpass, a Trump administration nominee, at
odds with the Biden administration, which is supporting text-based
WTO negotiations for vaccine intellectual property rights, led by
U.S. Trade Representative Katherine Tai.

Major vaccine makers and the pharmaceutical industries have
opposed the waiver from the WTO’s agreement on Trade-Related
Aspects of Intellectual Property Rights (TRIPS), arguing that it
would stifle innovation and do little to effectively increase
vaccine supplies constrained by trade barriers, shortages of
components and a lack of manufacturing capabilities.

Malpass on Tuesday reiterated his calls for wealthy countries to
quickly donate their excess vaccine doses to the developing world
as quickly as possible. read & comment now

The World Bank said its global growth forecasts, raised to 5.6%
for 2021 and 4.3% for 2022, could be higher if vaccinations can be
accelerated in developing countries. read & comment now

In Geneva, negotiations were proceeding on Tuesday and Wednesday
over revised waiver proposals from India and South Africa that
remained far broader than the narrow vaccine-only waiver favored by
USTR Tai.

“It seems to be they are still far apart. Their positions have
not fundamentally changed,” a Geneva-based trade official told
Reuters.