The US supports temporary abolition of patent on corona vaccine, know what it means

The war against the Coronavirus has raised great hope for poor and middle-income countries. The US has supported India's and South Africa's demand to temporarily remove the patent on the Corona vaccine.

The US has said that it is committed to protecting intellectual property but supports the demand to phase out patents on the vaccine to combat the epidemic. This move of the US is being considered important for India and other countries. If the patent on the corona vaccine is removed, it will not only increase the production of the vaccine but will also reduce the prices.

What is a patent?

A patent is a legal right granted to a company, institution, or person making any technology, discovery, service, or design so that no one can copy it. In other words, a patent gives a monopoly to any company, institution, or individual.

This is understood by the example of the coronavirus vaccine. Currently, Pfizer is making Corona vaccine in the US. Pfizer has a patent for this vaccine. Now if any other company wants to make Pfizer's vaccine with the same formula, name, or packing, then it will have to take permission from Pfizer. If a company starts making a vaccine without permission, it will be illegal and Pfizer can sue it.

How important is this decision of America?

Currently, all the companies that are making Corona vaccines in the world have patents for that vaccine and only that company can produce that vaccine. If the patent on the vaccine is removed, then the technology to make the vaccine will also be available to other companies, which will increase production. This will eliminate the shortage of vaccines and will also reduce the cost of the vaccine.

Poor countries are facing the most difficulty in the fight against Corona. Currently, around 80% of all the vaccine doses in the world have been given in high and middle-income countries. Since the cost of the vaccine is high, poor countries are unable to purchase the vaccine for all their citizens. If the patent is removed from the vaccine, then the price will also be lower and the vaccine can be applied in poor countries.

Arguments against banning patents

Supporting America on this move is considered a major victory, but there are more problems. Indeed, pharma companies around the world are opposed to the move. This is a big earning opportunity for pharma companies. Also, these companies say that they have made these vaccines by spending crores of rupees.

If the patent is removed from them, then these companies will incur losses. Intellectual property rights advocates say that this will shock people who innovate and invent new ones. If a patent is not granted on an invention, then why would someone work hard and take time to invent a new one.

Which countries in support?

In October last year, India and South Africa had asked the World Trade Organization (WTO) to remove the patent on the vaccine. More than 100 countries are currently supporting this demand of India and South Africa. Recently, the US has also supported this initiative, but earlier the US was opposed to this initiative.

About 100 members of the US House of Representatives (lower house) wrote a letter to President Joe Biden. The letter demanded that the patent be withdrawn from the vaccine. It is believed that after this, America has supported this initiative.

However, a day before Biden's decision, some Republican party leaders wrote letters demanding that Biden not be removed from the patent. Some countries, including the European Union, England, are still opposed to patent removal.

What is the benefit of India?

India is also facing a shortage of vaccines. Since May 1, the government has announced the introduction of a vaccine to all people over the age of 18, but many states have expressed an inability to apply the vaccine due to a lack of doses. The situation is that the registration portal for the vaccine crashed on the first day itself. Those who have registered on the portal are also having difficulty in booking an appointment due to a lack of vaccine doses.

Being the second-most populous country in the world, India also needs more doses. According to Our World in Data, till May 4, only 9.32% of the total population of India has got the first dose of vaccine. In such a situation, if the patent is removed from the vaccine, then it will be a relief for India.

India is currently the second most infected country. There are 3-4 lakh cases of corona daily. In such a situation, India needs to vaccinate the population as soon as possible.