August 11, 2022

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U.S. will abandon intellectual property patents for COVID-19 vaccine

Biden Administration: U.S. will abandon intellectual property patents for COVID-19 vaccine

 

 

U.S. will abandon intellectual property patents for COVID-19 vaccine. The Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

 

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on this matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the COVID-19 pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

 

The pharmaceutical giant’s stock price collapsed

The three major US stock indexes fluctuated on Wednesday, and the Dow hit a record closing high. Fed officials downplayed the risk of inflation, and US Treasury Secretary Yellen clarified that there is no forecast or recommendation to raise interest rates. The panic index VIX fell 1.2% to 19.25 points.

As of the close, the Dow rose 97.31 points to 34230.34 points, an increase of 0.29%; the Nasdaq fell 51.08 points to 13,582.42 points, a decrease of 0.37%; the S&P 500 index rose 2.93 points to 4,167.59 points, an increase of 0.07%.

 

Anti-epidemic concept stocks plunged collectively

Among the constituent stocks of the Dow, Dow Chemical, Chevron, Goldman Sachs, and Merck rose more than 2%; JP Morgan Chase, American Express, 3M, and Amgen rose more than 1%; Boeing fell more than 2%; Disney, Visa fell more than 1% .

Most leading technology stocks closed down. Among the six FAANMG technology stocks, Apple rose 0.2%; Google parent company Alphabet rose 0.3%; Facebook, Netflix and Amazon all fell more than 1%; Microsoft fell more than 0.5%. In addition, Tesla fell nearly 0.4%.

On the news, according to CCTV News, the Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on the matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the

Biden Administration: U.S. will abandon intellectual property patents for COVID-19 vaccine

 

U.S. will abandon intellectual property patents for COVID-19 vaccine. The Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

 

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on this matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the COVID-19 pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

 

The pharmaceutical giant’s stock price collapsed

The three major US stock indexes fluctuated on Wednesday, and the Dow hit a record closing high. Fed officials downplayed the risk of inflation, and US Treasury Secretary Yellen clarified that there is no forecast or recommendation to raise interest rates. The panic index VIX fell 1.2% to 19.25 points.

As of the close, the Dow rose 97.31 points to 34230.34 points, an increase of 0.29%; the Nasdaq fell 51.08 points to 13,582.42 points, a decrease of 0.37%; the S&P 500 index rose 2.93 points to 4,167.59 points, an increase of 0.07%.

 

Anti-epidemic concept stocks plunged collectively

Among the constituent stocks of the Dow, Dow Chemical, Chevron, Goldman Sachs, and Merck rose more than 2%; JP Morgan Chase, American Express, 3M, and Amgen rose more than 1%; Boeing fell more than 2%; Disney, Visa fell more than 1% .

Most leading technology stocks closed down. Among the six FAANMG technology stocks, Apple rose 0.2%; Google parent company Alphabet rose 0.3%; Facebook, Netflix and Amazon all fell more than 1%; Microsoft fell more than 0.5%. In addition, Tesla fell nearly 0.4%.

On the news, according to CCTV News, the Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on the matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the

Biden Administration: U.S. will abandon intellectual property patents for COVID-19 vaccine

 

U.S. will abandon intellectual property patents for COVID-19 vaccine. The Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

 

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on this matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the COVID-19 pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

 

The pharmaceutical giant’s stock price collapsed

The three major US stock indexes fluctuated on Wednesday, and the Dow hit a record closing high. Fed officials downplayed the risk of inflation, and US Treasury Secretary Yellen clarified that there is no forecast or recommendation to raise interest rates. The panic index VIX fell 1.2% to 19.25 points.

As of the close, the Dow rose 97.31 points to 34230.34 points, an increase of 0.29%; the Nasdaq fell 51.08 points to 13,582.42 points, a decrease of 0.37%; the S&P 500 index rose 2.93 points to 4,167.59 points, an increase of 0.07%.

 

Anti-epidemic concept stocks plunged collectively

Among the constituent stocks of the Dow, Dow Chemical, Chevron, Goldman Sachs, and Merck rose more than 2%; JP Morgan Chase, American Express, 3M, and Amgen rose more than 1%; Boeing fell more than 2%; Disney, Visa fell more than 1% .

Most leading technology stocks closed down. Among the six FAANMG technology stocks, Apple rose 0.2%; Google parent company Alphabet rose 0.3%; Facebook, Netflix and Amazon all fell more than 1%; Microsoft fell more than 0.5%. In addition, Tesla fell nearly 0.4%.

On the news, according to CCTV News, the Biden administration issued a decision on May 5, local time, stating that the United States will abandon its intellectual property patents for the COVID-19 pneumonia vaccine. US Secretary of Trade Katherine Tai announced the decision of the US government in a statement on the 5th.

Prior to this, American drugmakers had conducted fierce internal debates and vigorously fought back on the matter. Dai Qi said that the government’s move is to popularize safe and effective vaccines as soon as possible and end the COVID-19 pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

Affected by the news, the US stocks anti-epidemic concept stocks fell sharply for two consecutive trading days. On Wednesday, OCGN closed down 12.79%, BioNTech closed down 3.45%, and Moderna closed down 6.19%.

During the epidemic, Peloton (PTON), the world’s largest interactive fitness platform and fitness equipment manufacturer, fell 14.56%. According to a statement from the United States Consumer Product Safety Commission, Peloton will recall its Tread+ and Tread treadmills after injuries and deaths. More than a month ago, Peloton CEO John Foley asked the owner of the treadmill to check the safety warning after a child died in an accident involving the company’s fitness equipment.

 

(source:internet, reference only)

pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

Affected by the news, the US stocks anti-epidemic concept stocks fell sharply for two consecutive trading days. On Wednesday, OCGN closed down 12.79%, BioNTech closed down 3.45%, and Moderna closed down 6.19%.

During the epidemic, Peloton (PTON), the world’s largest interactive fitness platform and fitness equipment manufacturer, fell 14.56%. According to a statement from the United States Consumer Product Safety Commission, Peloton will recall its Tread+ and Tread treadmills after injuries and deaths. More than a month ago, Peloton CEO John Foley asked the owner of the treadmill to check the safety warning after a child died in an accident involving the company’s fitness equipment.

 

(source:internet, reference only)

pneumonia epidemic. She also said that the US government will continue to strengthen cooperation with the private sector and all possible partners, expand the manufacture and distribution of vaccines, and strive to increase the raw materials required to produce these vaccines.

This move by the United States may expand the global supply of COVID-19 pneumonia vaccines and narrow the vaccination gap between rich and poor countries. Ron Klain, director of the White House Office of the United States, said on the 2nd that intellectual property rights are part of the global shortage of COVID-19 pneumonia vaccines, but the bigger problem lies in manufacturing. He said that the White House will reveal more information “in the coming days.”

Affected by the news, the US stocks anti-epidemic concept stocks fell sharply for two consecutive trading days. On Wednesday, OCGN closed down 12.79%, BioNTech closed down 3.45%, and Moderna closed down 6.19%.

During the epidemic, Peloton (PTON), the world’s largest interactive fitness platform and fitness equipment manufacturer, fell 14.56%. According to a statement from the United States Consumer Product Safety Commission, Peloton will recall its Tread+ and Tread treadmills after injuries and deaths. More than a month ago, Peloton CEO John Foley asked the owner of the treadmill to check the safety warning after a child died in an accident involving the company’s fitness equipment.

 

(source:internet, reference only)


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