As the second wave of COVID-19 has struck with a devastating impact throughout the country, with cases rising continuously, there is an urgent need to ramp up the production of Covaxin and Covishield through voluntary licensing, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, in a press statement.
Voluntary Licensing refers to the authorisation given by the patent holder to a third party to manufacture and sell the patented product on the basis of mutually agreed terms.
The second wave of COVID-19 pandemic is spreading faster than the first wave and affecting almost every household in India. At this critical juncture there is a need to urgently provide licensing of production of Covaxin, Covishield and Sputnik, said Aggarwal.
He stated that compulsory licensing is another way of granting a license by the Government to a third party to use the patent, however, this may not be