Medical Device News Magazine

Coronavirus: AHF Thanks Members of Congress who say ‘No’ to Exclusive Patent Rights for Vaccine

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Summation

  • taxpayer bearing virtually the entire $700 million burden spent so far to develop a cure and a vaccine to this dire threat to public health, no drug company should benefit by getting an exclusive monopoly license to charge whatever they want for it,” said Michael Weinstein, president of AHF.

AIDS Healthcare Foundation (AHF) strongly agrees with this reasonable request as stated in the letter sent to President Trump on February 20.

“With the U.S. taxpayer bearing virtually the entire $700 million burden spent so far to develop a cure and a vaccine to this dire threat to public health, no drug company should benefit by getting an exclusive monopoly license to charge whatever they want for it,” said Michael Weinstein, president of AHF. “In fact, the lack of serious investment from these greedy companies gives lie to their empty talking points that they need to charge obscene prices and rake in sky-high profits to come up with the next cure.”

Weinstein concluded, “While AHF thanks these members of Congress for this statement, the drug industry has been thanking the generosity of the U.S. taxpayer by charging them the highest prices for medicine in the world. Those drug companies spend more on advertising, marketing, stock buybacks and CEO salaries than they do on research and development is well known.”

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Medical Device News Magazine provides breaking medical device / biotechnology news. Our subscribers include medical specialists, device industry executives, investors, and other allied health professionals, as well as patients who are interested in researching various medical devices. We hope you find value in our easy-to-read publication and its overall objectives! Medical Device News Magazine is a division of PTM Healthcare Marketing, Inc. Pauline T. Mayer is the managing editor.

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