Moneycontrol PRO
Loans
Loans
HomeNewsBusinessEconomyExclusive | Securing vaccines, deal to remove COVID copyrights to top Jaishankar’s talks in US

Exclusive | Securing vaccines, deal to remove COVID copyrights to top Jaishankar’s talks in US

External Affairs Minister S Jaishankar reached the US on Monday for a crucial five-day visit. This is the first official trip by a foreign minister from either side, after the Biden administration took charge.

May 24, 2021 / 17:09 IST
External Affairs Minister S Jaishankar (Representative image)

Vaccine distribution, be it in the form of bilateral assistance or through a global deal to temporarily remove intellectual property rights waivers for pharma companies, will top the agenda as External Affairs Minister S Jaishankar holds discussions in Washington DC with his American counterpart Secretary of State Antony Blinken later this week.

As of mid-May, the US had more than 27 million unused Moderna vaccine doses and 35 million doses from Pfizer Inc and BioNTech SE, according to data compiled by the Centers for Disease Control and Prevention.

“This so-called stockpile is expected to continue to grow in the immediate future as the pace of vaccination in the US falls with large percentage of critical age groups having already been inoculated," a senior official said.

While the US had, last month, said it will donate up to 80 million doses of the AstraZeneca jab, it has not clarified which countries will make the cut and how much will be allocated to each. On the other hand, the deadline has been made murky by the fact that the US Centres for Disease Control (CDC) is yet to officially approve the use of the AstraZeneca doses.

The Biden Administration has clarified that it can't send vaccines abroad until its own domestic regulators approve the vaccine for human use.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

However, sources say there is more to the story. “Even apart from the AstraZeneca jabs, the US has confirmed it will globally distribute up to 20 million doses manufactured by other companies that is already authorised for use in the US. The talks will also touch whether a portion of that can come to India," another official said.

Daily COVID-19 cases in India are currently falling and have remained below the 3-lakh- mark for the past seven straight days. This follows one of the largest outbreaks in the world with daily cases remaining above the 3-lakh mark for 25 straight days.

Critical juncture

Jaishankar will also discuss India's proposal at the World Trade Organization (WTO) on the proposed global intellectual property rights waiver for vaccines.

Moneycontrol had reported last week that India is set to submit an updated version of the proposal to the WTO's powerful Trade-Related Aspects of Intellectual Property Rights (TRIPS) Council by May 30.

While the US came out in support of the move last month, talks remain at a critical stage as developed countries draw the line at liberalising vaccine technology, and not the tech for key drugs and medical equipment, sources say.

The next few days will also see talks on the scope of bilateral assistance in the form of critical medical equipment that is being provided to India by the US.

According to the US Department of State, as of May 11, bilateral assistance from the US to India for combating COVID-19 totalled $100 million. This include six major airlifts to India over the course of as many days.

“Among the supplies included in those airlifts are 20,000 courses of remdesivir, nearly 1,500 oxygen cylinders, 550 mobile oxygen concentrators, 1 million rapid diagnostic tests, nearly 2.5 million N-95 masks, a large-scale deployable oxygen concentration system and pulse oximeters," the US State Department has said.

In addition, USAID has allocated immediate funding to purchase an additional 1,000 mobile oxygen concentrators.

Economic agenda

The minister is also set to meet the US Chamber of Commerce and other economic groups for further talks on a potential free trade agreement (FTA).

He will also be meeting cabinet members and senior officials of the presidential administration dealing with the bilateral relationship. Jaishankar is scheduled to have two interactions with business forums on economic and COVID-related cooperation between India and the US.

Both sides will also review preparatory work on the fourth India-US 2+2 dialogue, set to be held in the US, sources said. The dialogue is the highest-level institutional mechanism between the two countries, primarily focussed on defence and foreign policy tracks.

As is usually the case during a US visit, the External Affairs Minister is also set to meet United Nations Secretary General Antonio Guterres in New York.

Subhayan Chakraborty
first published: May 24, 2021 01:21 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347