(MENAFN)The US showed support for waiving patent protections for Coronavirus vaccines, stating that doing so would boost the international response to the pandemic.
As the Biden administration is supporting intellectual property protections, it also supports their lifting for Coronavirus vaccines "in service of ending this pandemic," according to US Trade Representative Katherine Tai.
She also declared that "We will actively participate in text-based negotiations at the World Trade Organization (WTO) needed to make that happen." "Those negotiations will take time given the consensus-based nature of the institution and the complexity of the issues involved."
Shares of the four companies producing US-approved vaccines -- Moderna, Pfizer, BioNTech and Johnson and Johnson -- declined after news of the then-looming declaration emerged.
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