EXEMPTING COVID-19 VACCINES FROM INTELLECTUAL PROPERTY RIGHTS WILL IMPROVE GLOBAL ACCESS AND EQUITY
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Abstract
India is globally well recognized for its generic drug manufacturing market on which innumerable nations depend for the supply of affordable and cheap drugs. India ranks 3rd in terms of pharmaceutical production by volume and 14th by value world-wide. i India is not only acknowledged for drug manufacturing but it is additionally one of the largest vaccine producers in the world. It supplies 62% of the global requirement for vaccinesii. The country is now also recognized as the “Pharmacy of the world”. In spite of this the country is experiencing scarcity of Covid-19 vaccine and in consequence of this it is the need of the moment to have recourse to provisions like compulsory licensing.
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