WTO nears deal on vaccine

Earlier, World Bank president David Malpass said the bank doesn’t support waiving IPR for Covid-19 vaccines, out of concern that it would hamper innovation in the pharma sector.

WTO members have taken a small step towards a deal aimed at boosting Covid vaccine production through patent waivers or compulsory licensing deals. The WTO has struggled to move forward on the issue as all decisions must be reached by consensus of all 164 member states. But on Wednesday, countries backed launching a process towards drafting a deal, a trade official said.

On Wednesday, countries backed launching a process towards drafting a deal, a trade official said. (REUTERS)

Earlier, World Bank president David Malpass said the bank doesn’t support waiving IPR for Covid-19 vaccines, out of concern that it would hamper innovation in the pharma sector.