World News | UK, Switzerland Scuttled TRIPS Consensus at WTO
Get latest articles and stories on World at LatestLY. Cracks between developed and developing nations emerged as rich, developed countries have once again created obstacles in getting consensus-based approval on the TRIPS waiver.
By Naveen Kapoor
Geneva [Switzerland], June 15 (ANI): Cracks between developed and developing nations emerged as rich, developed countries have once again created obstacles in getting consensus-based approval on the TRIPS waiver.
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It is learnt from top official sources that the UK and the host of WTO Switzerland are opposed to the idea of transferring IPR or patents to developing countries for combatting pandemics.
India at WTO yesterday lambasted developed countries and big pharma companies for prevailing over the common good of humanity and the world.
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Another source told ANI, "we are very close to reaching a consensus on TRIPS waiver and it is doable but vested interests are coming into play, some countries want your market access and don't want to share expertise and patent, the aim is to just make profits."
TRIPS waiver proposal was brought by India and South Africa, later it got the backing of more than 150 nations.
Only a handful of rich nations are scuttling the process, it is unlikely to reach any consensus until rich countries come on board.
Yesterday Commerce and Industry minister Piyush Goyal said, "if you're not even able to look at the near term future and the requirements of that period, then I think it's pretty much clear that rather than concern for humanity for the hundreds of thousands of lives lost or the millions affected, it is sad that the super-profits of a few pharmaceutical companies prevail over global good."
He was referring to insensitivity shown by some rich developed countries and pharma companies during pandemics by not helping developing and least developed countries at the time of need.
India is also urging WTO members to open negotiations on therapeutics and diagnostics. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)