Buchanan and Carter join GOP colleagues urging Biden to end waiver of IP protections

U.S. Representatives Vern Buchanan (R-FL) and Buddy Carter (R-GA) led 49 Republicans to urge President Joe Biden to end a plan to waive intellectual property (IP) protections for companies Americans.

“According to recent reports, US Trade Representative (USTR) Katherine Tai has reached an agreement in principle with the European Union, India and South Africa to waive intellectual property protections for COVID vaccines. -19 developed in the United States,” the lawmakers wrote in an April 8 letter sent to the president. “We are writing to express our serious concerns regarding the waiver of these critical intellectual property protections and urge you to do everything in your power to ensure that this agreement is not finalized.”

Rep. Buchanan, Rep. Carter and their colleagues pointed out that the “compromise” reported by the USTR does not protect the interests of the United States or the patients in developing countries who depend on drugs designed and manufactured in the United States.

“In fact, it would undermine the efforts of American scientists working diligently to develop the drugs needed to manage this current pandemic – and future ones as well,” they wrote. “The deal the USTR is about to move forward will stifle American medical innovation and destroy countless American research jobs, all to solve a supply problem that doesn’t exist. .”

Without intellectual property protections, biotech companies would not be able to easily raise capital to fund their research at the expense of billions of patients around the world, the lawmakers wrote, noting that because America has some of the With the strongest intellectual property protections in the world, the nation leads the world in biotech research with 80 percent of all investigational drugs in the global development pipeline coming from US labs.

“The reported agreement jeopardizes American scientific leadership and threatens our national security,” the lawmakers wrote. “We urge you and your administration to back down and reject this disastrous deal.”

Additionally, Rep. Buchanan on April 6 introduced the U.S. Innovation Protection Act, HR 7430, which would set limits on changes to trade agreements.

“Intellectual property rights encourage innovation and help stimulate the economy,” said Representative Buchanan. “The Biden administration’s misguided proposal to waive intellectual property protections will discourage innovation and make it harder to achieve the next life-saving medical breakthrough.

“It will also serve as a massive giveaway to countries like China, Russia and India that have been stealing intellectual property from American innovators for years,” he added.

Rep. Buchanan is one of the original 10 GOP cosponsors of HR 7430 along with U.S. Reps. Jackie Walorski (R-IN), Darin LaHood (R-IL), Brad Wenstrup (R-OH), Ron Estes (R-KS ), Carol Miller (R-WV) and Lloyd Smucker (R-PA).

U.S. Representative Adrian Smith (R-NE) sponsored the measure, which would require the USTR to consult with Congress when negotiating U.S. trade deals, including waivers of the Intellectual Property Rights Aspects Agreement related to trade (TRIPS) of the World Trade Organization. It would also require the executive branch to report to Congress on why a TRIPS waiver is needed, according to a summary of the bill provided by lawmakers.

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