US Supports India in Covid-Crisis

  • US has assured immediate supplies of specific raw materials that are needed by the Serum Institute of India (SII) to ramp up the production of Covid vaccines.
  • The U.S.’s assistance will include making raw materials for COVID-19 vaccine ‘Covishield’ immediately accessible and pursuing options to generate oxygen “on an urgent basis.
  • The U.S. will also expand financing for BioE, a Hyderabad-based firm, to ramp up production to meet requirements of a vaccine supply programme that is being rolled out by the Quad (India, the U.S. , Australia and Japan).
TRIPS AGREEMENT 
  • India discussed its initiative at the World Trade Organisation (WTO) for a relaxation in the norms of the agreement on Trade Related Aspects of Intellectual Property (TRIPS) to ensure quick and affordable access to vaccines and medicines for developing countries.
  • The 1995 agreement on TRIPS is a key legal instrument that harmonises Intellectual Property (IP) protection by imposing binding obligations on member countries to ensure a minimum level of protection and enforcement of IP rights in their territories.
  • IP rights could hinder the supply of vaccines and drugs at affordable prices.

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