Hesitancy to share vaccine IP will increase inequality

Significance

Although eight vaccines have been developed and approved for use against COVID-19, production constraints leave many lower-income countries facing a lengthy wait. They are backing an initiative to waive intellectual property (IP) rights on treatments to facilitate transfers of vaccine manufacturing capability.

Impacts

• Low-income nations may opt to issue compulsory licences, allowing governments to waive IP rights without the licence owners’ consent.
• The IMF backed a USD650bn round of special drawing rights at the spring meeting, in part to help vaccinate developing nation populations.
• A YouGov poll recently found that 74% of the UK public think governments should ensure vaccine expertise is shared globally.