WASHINGTON, D.C. - U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley today called on the Biden Administration and other World Trade Organization (WTO) members to end discussions to erode intellectual property (IP) protections for COVID-19 therapeutics and diagnostics, stating:
“It’s time for the Biden administration to oppose this failing and harmful proposal. Supply of COVID-19 therapeutics, diagnostics, and vaccines, vastly exceeds demand, which has led countries from Mexico to Switzerland to conclude — rightly — that intellectual property was never an impediment to their production or distribution.
“Developing the next breakthrough treatment or cure requires decades of research and development and billions of dollars in private-sector investment—none of which is possible without reliable and enforceable IP protections.
“Last week’s meeting at the WTO confirmed that no country has introduced language for an expanded IP waiver, nor have any countries utilized the existing vaccine waiver. Meanwhile, bipartisan concerns about the administration’s lack of consultation with Congress have been mounting. It’s time to end this ideologically driven discussion that would only offshore American innovation and undermine U.S. national security by forfeiting our IP to foreign competitors.”