Agree with your concern that waiving IP rights is disincentive for pharmaceutical industry to R&D future medicines and vaccines, but it does not negate the fact that vaccines in a pandemic are a global public good. It is about human rights.
Regarding the financial status of the vaccine companies, half of Pfizer’s record-setting revenue in 2021 were from their vaccine.
Although I agree fundamentally with the OP’s suggestion for a fully public vaccine development, a concession might be a one year limit on TRIPs patents for vaccine, allowing profit before sharing the tech.
Vaccines are excludable (it is easy to largely prevent people from accessing them) and rivalrous (most of the benefit of the vaccine goes to the person being vaccinated, as transmission is reduced but still significant) and hence while they may have positive externalities they are not public goods.
True, my mistake. Herd immunity is the public good. I would still suggest vaccines are the cheapest, safest, fastest, most equitable route to herd immunity.
Agree with your concern that waiving IP rights is disincentive for pharmaceutical industry to R&D future medicines and vaccines, but it does not negate the fact that vaccines in a pandemic are a global public good. It is about human rights.
Regarding the financial status of the vaccine companies, half of Pfizer’s record-setting revenue in 2021 were from their vaccine.
Although I agree fundamentally with the OP’s suggestion for a fully public vaccine development, a concession might be a one year limit on TRIPs patents for vaccine, allowing profit before sharing the tech.
Also this report that big pharma R&D costs are vastly overblown; it is what I had suspected, now upheld by research.
Vaccines are excludable (it is easy to largely prevent people from accessing them) and rivalrous (most of the benefit of the vaccine goes to the person being vaccinated, as transmission is reduced but still significant) and hence while they may have positive externalities they are not public goods.
True, my mistake. Herd immunity is the public good. I would still suggest vaccines are the cheapest, safest, fastest, most equitable route to herd immunity.