Biden’s Global Innovation Rights Giveaway Poisons New Medical Breakthroughs

July 19, 2021

Several countries have already signed on to support a proposal led by India and South Africa to “waive” large portions of the WTO’s Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement for COVID-19 vaccines and other medical supplies. The measure would strip pharmaceutical companies of their intellectual property rights and greenlight foreign firms to reproduce versions without licensing agreements or necessary know-how. Experts warn it would set back the world-class innovation ecosystem based in the United States for years to come.