BizBeat Ep. 117: U.S. backs waiving international patent protections for COVID-19 vaccines

The World Trade Organization (WTO) is calling for vaccine makers to waive their intellectual property rights. But several Western countries have so far rejected the move, as big pharmaceutical companies including Pfizer and AstraZeneca have opposed it. 

However, U.S. President Joe Biden on Wednesday threw his support behind waiving intellectual property rights for COVID-19 vaccines, clearing a hurdle for vaccine-strapped countries to manufacture their own vaccines even though the patents are privately held.

Let's see how CGTN's Zheng Junfeng analyzes the situation in this episode of BizBeat.

Search Trends