Event Background
As the pandemic continues to surge overseas and vaccine shortages intensify, the United States announced on May 5, local time, that it would support waiving intellectual property protections for COVID-19 vaccines. In a statement released on May 5, local time, the Biden administration said the U.S. would relinquish its intellectual property rights to COVID-19 vaccine patents. U.S. Trade Representative Katherine Tai announced this decision by the U.S. government in a statement on the same day.
Market impact
Following the news, global vaccine stocks plummeted. In U.S. stocks, Moderna closed down over 6%, Novavax fell nearly 5%, and BioNTech dropped more than 3%. In Hong Kong stocks, Fosun Pharma’s H-shares plunged by over 22% at one point in early trading, while CanSino Biologics fell by over 19% at one point. As of today’s closing, Fosun Pharma’s H-shares had fallen by 14.13%; CanSino Biologics by 15.01%; Kexing Pharmaceutical by 8.43%; and China Biopharmaceutical by 5.83%.
Fellow investors are all paying attention.
As soon as the news broke that the U.S. would grant a patent waiver for COVID-19 vaccines, global vaccine stocks plummeted. Are those once-hot pandemic-themed stocks still worth holding? Fellow investors shared their views. As for the future performance of pandemic-themed stocks, those who are bullish and those who are bearish remained evenly matched, each holding steady at around 50%.
The fellow investor community is still closely following the developments of the incident, and many fellow investors have raised questions about whether this initiative will actually be implemented.
Now, Hot Girl will take you to check out the exciting insights from our fellow investors!
@YJ炸鸡哥: How difficult is it to open up a patent...