UPDATE 1-Biden says he plans to back WTO waiver for vaccines

(Adds WTO background)

WASHINGTON, May 5 (Reuters) - President Joe Biden said on
Wednesday he plans to back a World Trade Organization waiver for
vaccine intellectual property and would talk about it later in
the day.

"Yes, I'm going to talk about that later today, yes," Biden
told reporters in reply to a question about whether he intended
to back the waiver after he gave a speech regarding his proposed
"American Rescue Plan."

The United States and several other countries have thus far
blocked negotiations at the World Trade Organization about a
proposal led by India and South Africa that would waive the IP
rights of pharmaceutical companies to allow developing countries
to produce COVID-19 vaccines.
(Reporting by Andrea Shalal and Steve Holland; Editing by Peter
Cooney)