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Covid-19 vaccine: Germany says patent protection 'must remain'

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- Pharma stocks hit -Shares in vaccine manufacturers dropped after the EU and Russia followed the United States in signaling they are open to the idea of patent waivers for coronavirus vaccines.But the sell-off was less severe than the day before, which Gregori Volokhine of Meeschaert Financial Services credited to traders realizing the complexity of reaching an agreement at the WTO and German intransigence.Supporters of the waiver say that easing patent restrictions will spur production of low-cost generic vaccines, helping poor countries that are struggling to immunize their populations.Opponents argue it could erode pharmaceutical companies' profit incentive to develop new treatments.India has been leading the fight to allow more.

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