On 6 July 2022, Members of the World Trade Organisation
Council for Trade-Related Aspects of Intellectual Property Rights
(TRIPS
Council) agreed to waive the previously well understood and
agreed principles of patent law for vaccines manufactured to
prevent COVID-19. It was also agreed to begin discussions on a
further possible extension to cover patents for the production and
supply of COVID-19 diagnostics and therapeutics (within 6 months
after further submissions). The purpose of the decision was to
ensure the equitable access of eligible Members to the COVID-19
vaccine covered by the authorisation and to increase the supply of
COVID-19 vaccines in dealing with the pandemic.
By way of background, the TRIPS Agreement¹ is
widely held as an instrument of great strategic importance to
Australia's national interests in terms of innovation,
technology transfer and public welfare. It sets minimum standards
(for Member countries acceding to the TRIPS Agreement)
