Intellectual property rights held by international pharmaceutical companies on COVID-19 vaccines may be relaxed for up to five years, according to a proposal by the European Union (EU) in the backdrop of a festering two-year-old dispute at the World Trade Organisation involving India, U.S., South Africa and the EU.
This reprieve will, however, not apply to COVID-19 drugs and diagnostic devices, though the EU proposes a “discussion” on this in the next six months and also rebuffs India’s original demand for a complete waiver on intellectual property restrictions on covid therapeutics.
