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US backs plan to suspend Covid vaccine patents during pandemic

Move to rip up intellectual property rights prompts sell-off in shares of jab makers

The US has backed a temporary suspension of intellectual property rights for Covid-19 vaccines in a move likely to enrage the pharmaceutical industry, which strongly opposes the waiving of patents.  

Joe Biden’s top trade adviser Katherine Tai said that while the US administration “believes strongly” in IP protections, it would support a waiver of those rules for Covid-19 vaccines.

“This is a global health crisis, and the extraordinary circumstances of the Covid-19 pandemic call for extraordinary measures,” Tai said in a statement. 

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