Analysing the Role of Intellectual Property Rights in the Development of Vaccines

The Pharmaceutical industry located in multiples parts of the world characterize themselves as one of the riskiest businesses. In spite of the same, the industry constantly strives towards innovative medical substances and ground breaking treatments to eradicate global illnesses. Vaccines are pivotal pharmaceutical commodities, formulated to eliminate acute infectious diseases and create “herd immunity” with the vision of securing a wholesome community. Few instances of success in vaccination includes – immunization against yellow fever and small pox. The recent debate for and against the temporary waive of vaccinations in light of COVID 19 necessitates an in-depth study into the Intellectual Property Law governing pharmaceutical products especially vaccinations. Furthermore, through this paper, the researcher sheds light up on domestic statutes and international treaties governing vaccines and IPR. Lastly, the repercussions of waiver of intellectual rights of pharmaceutical companies shall be highlighted throughout the paper.