The huge profits of the pharmaceutical investment industry are based on the patenting of new drugs and vaccines. These patents – defined under international law as intellectual property – form the basis of its business model. Viewing the COVID-19 pandemic as a long-term money-making opportunity and already having raked in billions of dollars from it, it is inevitable that pharmaceutical companies will reject attempts to waive their rights to such patents.
Speaking in an online forum organized by the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) in May 2020, Pfizer’s chief executive Albert Bourla openly derided a proposal to share coronavirus vaccine patent rights with developing countries as “nonsense” and “dangerous”. AstraZeneca’s chief executive Pascal Soriot was equally forthright, telling the forum’s viewers that intellectual property (IP) is a “fundamental part” of the pharmaceutical industry. “If you don’t protect IP,” he complained, “there is no incentive for anybody to innovate”.
To read how a US government-funded study has concluded that the health risks of coronavirus vaccines are not being adequately disclosed, see this article on our website.
To learn more about the health risks of coronavirus vaccines, read this in-depth article by Dr. Rath and Dr. Aleksandra Niedzwiecki.
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“An international body representing a who’s-who of Big Pharma firms has rejected a US-backed proposal to lift intellectual property rights for coronavirus vaccines.” [Source: rt.com]
Comment
The huge profits of the pharmaceutical investment industry are based on the patenting of new drugs and vaccines. These patents – defined under international law as intellectual property – form the basis of its business model. Viewing the COVID-19 pandemic as a long-term money-making opportunity and already having raked in billions of dollars from it, it is inevitable that pharmaceutical companies will reject attempts to waive their rights to such patents.
Speaking in an online forum organized by the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA) in May 2020, Pfizer’s chief executive Albert Bourla openly derided a proposal to share coronavirus vaccine patent rights with developing countries as “nonsense” and “dangerous”. AstraZeneca’s chief executive Pascal Soriot was equally forthright, telling the forum’s viewers that intellectual property (IP) is a “fundamental part” of the pharmaceutical industry. “If you don’t protect IP,” he complained, “there is no incentive for anybody to innovate”.
To read how a US government-funded study has concluded that the health risks of coronavirus vaccines are not being adequately disclosed, see this article on our website.
To learn more about the health risks of coronavirus vaccines, read this in-depth article by Dr. Rath and Dr. Aleksandra Niedzwiecki.
Dr. Rath Health Foundation
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