Roche chief executive Severin Schwan has warned that waiving Covid-19 vaccine patents would be a “catastrophe”, comparable to East Germany’s nationalisation of drugmakers.
Schwan said the US-backed proposal to allow free access to pharmaceutical companies’ intellectual property, in an effort to boost vaccine production, would be “counterproductive” and would not solve supply shortages.
The Biden administration’s decision to back a proposal to waive patents on Covid-19 vaccines during the pandemic surprised many and has negatively affected the share price of vaccine makers.
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