WASHINGTON – House Ways and Means Committee Republican Leader Kevin Brady (R-TX) issued the following statement in response to the Biden Administration’s announcement that it will waive intellectual property (IP) protections at the World Trade Organization (WTO):
“The world needs COVID vaccines now, but it shouldn’t be done by damaging the pathway to new vaccines and cures the world will need in the future.
“Looking ahead to the next pandemic, it is dangerous for America to consent to strip away patents on lifesaving COVID vaccines now that cost businesses billions of dollars to develop at a historic pace – and risk rewarding China with access to U.S. innovation for a world pandemic China fueled.
“The better solution to help our global neighbors is to solve the very real logistical hurdles slowing access to these vaccines, not undermine the incentives to develop them.”
In a letter last month, Ways and Means Republicans urged President Biden to promote strong IP protections internationally while assisting developing countries in obtaining the vaccines and treatments they need to fight COVID-19. Read the full letter here.