CureVac Inc. (NASDAQ: CVAC) stock declined by 7.16% at last close whereas the CVAC stock price gains by 8.44% in the pre-market trading session. CureVac is a multinational biopharmaceutical corporation specializing in messenger RNA (mRNA) technology. CVAC has more than 20 years of experience designing and refining the versatile biological molecule for medical applications. CureVac’s patented research works on the idea of using non-chemically engineered mRNA as a data carrier to tell the human body to make its own proteins capable of combating a wide variety of diseases.
What is happening?
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Biden’s support for waiving intellectual property protections for COVID-19 vaccines enraged research-based pharmaceutical firms on Wednesday. According to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), if the plan is approved by the World Trade Organization, it would enable new manufacturers that lack basic expertise and supervision from the inventors to crowd out existing contractors.
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Drugmakers said on Thursday that US President Joe Biden’s support for suspending COVID-19 vaccine patents could jeopardize a vulnerable supply chain and that rich countries could also invest more generously with the developing world.
What’s going on with CVAC?
Patents are not to blame for production bottlenecks, according to CureVac, which plans to announce trial results on its messenger ribonucleic acid (mRNA) vaccine as soon as this month. CureVac has said that it would not implement its patents during the pandemic and that no other company would do so.
According to a spokeswoman, since mRNA technology has emerged as a crucial technology in the battle against COVID-19, the world now needs unimaginable quantities of the same raw materials. The toughest issue is figuring out how to organize all of this.