World Bank opposes vaccine intellectual property waiver as WTO talks resume

World Bank President David Malpass has said the bank does not support waiving intellectual property rights for Covid-19 vaccines as it may hamper innovation in the pharmaceuticals sector.

World Bank President David Malpass said on Tuesday the bank does not support waiving intellectual property rights for Covid-19 vaccines at the World Trade Organization out of concern that it would hamper innovation in the pharmaceuticals sector. His comments on the subject, made during a call with reporters on World Bank economic forecasts, came as WTO negotiations over the proposed waiver resumed in Geneva. Asked whether he backs a WTO vaccine IP waiver, which India, South Africa and other emerging market countries argue is needed to expand vaccine access, Malpass said: “We don’t support that, for the reason that it would run the risk of reducing the innovation and the R&D in that sector.”