The world has a unique opportunity: Accelerating technology transfer and vaccine production through partnerships

Xiaolan Fu (), Peter J. Buckley (), Diego Sanchez-Ancochea () and Ines Hassan ()
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Xiaolan Fu: University of Oxford
Peter J. Buckley: University of Leeds
Diego Sanchez-Ancochea: University of Oxford
Ines Hassan: International Science Council

Journal of International Business Policy, 2022, vol. 5, issue 3, No 7, 406-415

Abstract: Abstract The global roll-out of vaccines is crucial to defeating the pandemic, but the lack of technical know-how and manufacturing infrastructure for production are constraining the speedy provision of vaccines globally. This will remain true even if the intellectual property rights of COVID-19 vaccines are waived temporarily. To accelerate technology transfer and global vaccine production, this article calls for the promotion of joint ventures between global COVID-19 vaccine manufacturers and local pharmaceutical companies so as to create regional manufacturing hubs. These joint ventures must be supported financially by global North countries, international organisations, and host-country governments. This approach will incentivize pharmaceutical companies to share not only their patents but also tacit production knowledge because the risk and cost of setting up new facilities will be shared. In this paper, we show how the joint venture approach will have benefits for all the actors involve and generate positive impact on Sub-Saharan Africa and other regions over the long run. Following these policy proposals will not only help protect the global community from COVID-19 but will also present a rare window of opportunity to stimulate the life science industry in the global South, supporting sustainable economic and technological development.

Keywords: COVID-19; technology transfer; partnerships; alliances; joint ventures (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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DOI: 10.1057/s42214-021-00124-7

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