Moderna CEO Not Upset About President Biden’s Willingness to Waive IP Rights for Vaccines

Moderna CEO Stéphane Bancel indicated that he’s not nervous about President Biden’s new willingness to temporarily waive intellectual property (IP) rights for COVID-19 vaccines.

“I didn’t lose a minute of sleep over the news during the night,” said Bancel, in an earnings call for investors.

Bancel reasoned that such a waiver wouldn't “change anything for Moderna.” Moderna, he said, has in the past year created and invested in a very large supply chain, which puts the company far ahead of other vaccine makers who might want to use their IP to begin work on a new mRNA vaccine. Additionally, a company just starting out using Moderna’s mRNA concept would need 12 to 18 months to conduct trials, apply for approval and manufacture the drug.

The idea of removing IP protections was first put forth by South Africa and India before the World Trade Organization last year with the intention of increasing supply for developing countries.