• By The Financial District

BIO CHAIR DISMAYED OVER BIDEN DECISION ON VACCINE PATENTS

In response to the Biden Administration's decision to waive patent protections for COVID vaccines and raise global production, Dr. Jeremy Levin, chairman of the global Biotechnology Innovation Organization (BIO), issued the following statement:

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"We are extremely disappointed by this decision. This is not just a matter of forcibly transferring IP and knowhow from America to other nations.


BIO, together with others, put forward a viable and robust plan to create high-paying, skilled jobs in America which would have ensured not just high-quality manufacturing of vaccines, but rapidly accelerated delivery of these vaccines affordably to other nations.


There was and is no need to rebuild factories around the world which will not only take a long time to accomplish, but also the standards and capabilities that exist in America cannot be easily replicated or guaranteed.


In the future, this decision will act as a disincentive to companies to respond to the next pandemic."



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