The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
Ten Covid-19 vaccines could be available by the middle of next year if they win regulatory approval, but their inventors need patent protection, the head of the global pharmaceutical industry group said on Friday.
Vaccines by Pfizer and BioNtech, as well as Moderna and AstraZeneca have shown promising results in large clinical trials, but there is no question of “cutting corners”, said Thomas Cueni, director-general of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA).
“So far 3 we have 3 out of 3 were hits. I would expect that we will see something similar with Johnson & Johnson, I would expect that we would see similar positive results with Novavax, and many others, Sanofi Pasteur, GSK are in there, Merck,” he said.
‘Big Pharma’ and biotech firms have invested heavily in research and development and in boosting manufacturing during the pandemic to be able to roll out vaccine doses, Cueni told a Geneva news briefing.
It would be a mistake to lift patent protection to allow compulsory licensing and try to make vaccines requiring such complex quality assurance without expert staff and quality control procedures, he said.
“We will hopefully by the next summer have probably 10 vaccines which have proven their value. But all of them really need to be submitted by rigorous scientific scrutiny by the regulators.”
At the World Trade Organization (WTO), India and South Africa have proposed allowing a temporary waiver to allow compulsory licensing for patented products during the pandemic. The United States, European Union and Switzerland and others have rejected it, trade officials say.
Cueni, asked about the proposal, said: “For me this questioning of IP is really primarily politics, but it’s politics which is not helpful because it would send very negative signals in terms of disrespect to the system which allowed the world to react so fast and so responsibly.”
Vaccine manufacturing plants often need 50 quality assurance staff making hundreds of checks during production, he said, emphasising that the companies would not exploit the pandemic.
Cueni said that IFPMA archives showed there had never been a compulsory license granted for a vaccine and pointed to the difficult technology and know-how. Nearly every member company had committed to “not-for-profit” or socially responsible pricing during the pandemic, he added.
The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
She was shopping in Hong Kong, where she was on vacation with her family, when someone spotted her and asked if she'd like to become a model.
After the October 7 attacks, Israel imposed a complete siege on Gaza, blocking food, water and medicine, before eventually allowing some deliveries
The event highlighted Hilton's innovative ‘Green Ramadan’ initiative and its commitment to sustainable hospitality in Hilton
On every 19th of Ramadan, the country celebrates Sheikh Zayed Humanitarian Day to commemorate the humanitarian efforts of the founding father
Customers can earn miles with every purchase made with any linked payment card across all Union Coop stores and online
People will be trained for a couple of months before they are able to drive and fly it
Conditions are likely to get humid by night time