Video Credit: Reuters - Politics - Duration: 01:50s - Published
Drugmakers push back on vaccine patent waiver
Drugmakers on Thursday said U.S. President Joe Biden's support for waiving patents of COVID-19 vaccines could disrupt a fragile supply chain and that rich countries should instead share more generously with the developing world.
Drugmakers are pushing back against U.S. President Joe Biden’s show of support for waiving patents of COVID-19 vaccines.
Research-based pharmaceutical companies say such a move could disrupt a fragile supply chain… and that rich countries should instead share more with the developing world.
The International Federation of Pharmaceutical Manufacturers and Associations on Thursday said waiving intellectual property rights for COVID vaccines would invite new manufacturers that lack essential know-how to crowd out established contractors.
It would also set a bad precedent, says European patent attorney Micaela Modiano: "...It’s because of the patents that companies keep investing money into, looking for new treatments, better treatments and better vaccines, better drugs.
And and you would not have this kind of investment if if there wasn't a proper reward for these companies.
So the patent system was involved in for this system.
And I think it's, if I may say so, a bit silly to try to reinvent it now.” Shares of COVID-19 vaccine makers were initially rattled late on Wednesday after Biden said he backed a WTO-proposed waiver… and shares fell on Thursday.
But the WTO and the WHO applauded Biden's show of support... as they aim to help developing countries produce vaccines using the IP of pharmaceutical companies.
On Thursday, U.S. Secretary of State Antony Blinken said vaccinating the globe against COVID-19 needs to be sped up to beat mutations of the virus... and described a patent waiver as "one possible means” of increasing access to vaccines.
The next stop is for the World Trade Organization to hammer out a deal - but with lengthy negotiations, the process that could take months.
Welcome to the International News Wrap, your go-to source for the latest developments from around the globe, exclusively on OneIndia. From the unprecedented floods in Dubai to the escalating tensions threatening a potential third World War, there's no shortage of significant events shaping the international landscape. Today, we cover a spectrum of stories, from the heartwarming return of a Kerala woman from Iran to the crucial push by President Biden to secure aid for Ukraine. Stay tuned as we delve into the top international developments of the day, keeping you informed and up-to-date on the latest happenings across the world.
#InternationalNews #MountRuang #IndonesiaVolcano #DubaiFloods #RussiaUkraineWar #IsraelIranConflict #Russi #Germany #Biden #Oneindia
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Joe Biden has suggested his uncle may have been eaten by cannibals after his plane was shot down during the Second World War - as he said Donald Trump was.. Sky News
Biden Wants to Increase Tariffs , on Chinese Steel and Aluminum Imports.
Speaking from the United Steelworkers
union in Pennsylvania on April 17.
Speaking from the United Steelworkers
union in Pennsylvania on April 17.
Biden will call on U.S. Trade Representative Katherine Tai to triple tariffs on Chinese
steel and aluminum, NPR reports. .
Biden will call on U.S. Trade Representative Katherine Tai to triple tariffs on Chinese
steel and aluminum, NPR reports. .
Those tariffs are presently at about 7.5%.
While these Chinese imports "account for less than 1% of U.S. demand," the country's steel prices are 40% cheaper than America's, NPR reports. .
The White House is concerned that
this could prompt a surge of exports. .
China's policy-driven overcapacity poses
a serious risk to the future of the
American steel and aluminum industry, Lael Brainard, Biden's top economic adviser, via NPR.
The president understands
we must invest in American
manufacturing, but we also have
to protect those investments and
those workers from unfair exports. , Lael Brainard, Biden's top economic adviser, via NPR.
The Biden administration also sent officials to Mexico to discuss preventing Chinese steel from entering the U.S. via its southern neighbor. .
I want to emphasize our desire to
cooperate and partner with Mexico
on addressing imports coming in
to the North American market as
a way of circumventing tariffs, Senior administration official, via NPR.
I'm not going to get ahead
of the diplomatic conversations
that have happened today and
that will be happening in the
days and weeks to come. , Senior administration official, via NPR.
But I think we're hoping to come to
a mutually acceptable solution with
Mexico, because this is a problem that
affects both of our economies, Senior administration official, via NPR.
United Steelworkers recently endorsed Biden
after he voiced his opposition to a U.S. Steel takeover by Nippon Steel, a Japanese company. .
United Steelworkers recently endorsed Biden
after he voiced his opposition to a U.S. Steel takeover by Nippon Steel, a Japanese company.
Credit: Wibbitz Top Stories Duration: 01:31Published
House Republican leaders have lambasted President Joe Biden for his perceived inaction in enforcing existing measures against Iran. Representative Steve Scalise, the No. 2 House Republican, voiced concerns over the administration's policies allegedly facilitating Iran's oil sales, which fund terrorism. The Biden administration faces mounting pressure to deter future attacks without exacerbating regional tensions or antagonising China, a major buyer of Iranian oil.
#Biden #BidenSanctions #BidenIraq #AlSudani #BidenGaffee #USnews #Politics #IsraelIran #IranAttacksIsrael #Worldnews #Oneindia #Oneindianews
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Mary Ng, Canada's Minister of Export Promotion, International Trade, and Economic Development, plans to engage with Indian Minister Piyush Goyal during the WTO ministerial meet in Abu Dhabi. Discussions on the Early Progress Trade Agreement (EPTA) have stalled since August. Despite setbacks, Ng expresses optimism, highlighting ongoing trade-related engagements between Canadian and Indian officials to strengthen bilateral relations.
#MaryNG #Canada #CanadaIndia #PiyushGoyal #JustinTrudeau #AbuDhabi #WTO #EPTA #Nijjar #Trudeau #Worldnews #Oneindia #Oneindianews
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Ahead of a planned tractor march by BKU and SKM, Noida Police issues a traffic advisory for potential disruptions at Delhi-Noida borders. Prohibitory orders under Section 144 are in place, with additional personnel deployed. Alternative routes advised; farmers halt march towards Delhi. SKM observes 'Quit WTO Day', demanding agriculture's exclusion from WTO discussions.
#FarmersProtest #FarmerProtests2024 #KisanAndolan #BKU #SKM #NoidaPolice #DelhiPolice #DilliChalo #WTO #Indianews #Worldnews #Oneindia #Oneindianews
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Amid escalating tension in the Middle East, US Secretary of State Antony Blinken engaged in diplomatic talks with regional leaders after Iran's strikes on Israel. The US reiterated support for Israel's defence and emphasized diplomatic efforts to de-escalate the crisis. The situation remains tense, with Israel assessing its response.
#iranattacksisrael #iranisrael #iranisraellivenow #iranisraelwarfootage #iranisraelyudh #israeliranyudh #iranisraelconflic #Oneindia #Oneindianews
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US Airlines , Accuse China of , 'Harmful Anti-Competitive Policies'.
CNN reports that the United States aviation industry
has urged the Biden administration to pause the
approval of more flights to and from China.
CNN reports that the United States aviation industry
has urged the Biden administration to pause the
approval of more flights to and from China.
According to an open letter, China's
“existing harmful anti-competitive policies”
are affecting U.S. airlines and workers.
The competitive disadvantage
is harmful to the approximately
315,000 workers employed
by U.S. passenger airlines
that serve China, Airlines for America open letter, via CNN.
The letter, addressing Secretary of State Antony Blinken
and Transportation Secretary Pete Buttigieg, was
signed by Airlines for America, an industry lobby group.
The letter, addressing Secretary of State Antony Blinken
and Transportation Secretary Pete Buttigieg, was
signed by Airlines for America, an industry lobby group.
Members of the group include American Airlines,
Delta and United, along with other unions
representing aviation workers.
Members of the group include American Airlines,
Delta and United, along with other unions
representing aviation workers.
Members of the group include American Airlines,
Delta and United, along with other unions
representing aviation workers.
If the growth of the Chinese aviation
market is allowed to continue unchecked
and without concern for equality of access
in the market, flights will continue to be
relinquished to Chinese carriers at the
expense of U.S. workers and businesses, Airlines for America open letter, via CNN.
CNN reports that the Biden administration said in February
that it would allow Chinese airlines to increase the
number of direct passenger flights to the United States.
At the time, U.S. officials granted Chinese carriers
approval to make 50 weekly round-trip flights,
increased from 35 amid the COVID-19 pandemic.
Prior to the pandemic,
over 150 weekly
flights were allowed. .
China's Foreign Ministry defended the increased number
of flights, citing a "consensus reached" in November between
Chinese leader Xi Jinping and U.S. President Joe Biden.
China's Foreign Ministry defended the increased number
of flights, citing a "consensus reached" in November between
Chinese leader Xi Jinping and U.S. President Joe Biden
Credit: Wibbitz Top Stories Duration: 01:31Published
An osprey who rose to fame as an online star during the first COVID lockdown has welcomed the earliest egg of the season in the Scottish Highlands. Sky News
In Sironcha, 100-year-old Kishtayya Madarboyna voted through a postal ballot after officials traveled 107km from Aheri. The EC's postal facility aided disabled.. IndiaTimes
Ex-MLA Bhagwan Sharma alias Guddu Pandit sentenced to 2 years 5 months in jail, Rs 25,500 fine for violating Covid guidelines. Shared police notice on Facebook,.. IndiaTimes
Chandrasekhar's 2021-22 taxable income fell to Rs 680 from Covid losses, sparking EC scrutiny. Congress alleges asset concealment by Chandrasekhar, a candidate.. IndiaTimes
President Joe Biden on Wednesday threw his support behind waiving intellectual property rights for COVID-19 vaccines, bowing to mounting pressure from Democratic lawmakers and more than 100 other..
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