Pharmaceutical association says Biden move on COVID-19 vaccine patent 'wrong answer'

The International Federation of Pharmaceutical Manufacturers and Associations said on Wednesday that U.S. President Joe Biden's support for waiving patents of COVID-19 vaccines was 'the wrong answer' to a complex problem and called for more technology transfer agreements. The Geneva-based IFPMA, which represents research-based pharmaceutical companies, said in a statement: 'Waiving patents of COVID-19 vaccines will not increase production nor provide practical solutions needed to battle this global health crisis. On the contrary, it is likely to lead to disruption.'