The COVID-19 pandemic has had a ravaging impact on lives and economies all over the world. There is clear consensus among nations that no one is safe till everyone is safe. The last year has witnessed the rapid development of health technologies such as diagnostics kits, contact tracing applications and vaccines et al, which have the potential to overcome this pandemic. However, the rise of ‘vaccine nationalism’, as well as the lack of equitable global distributional frameworks for such technology have thwarted the global effort to succeed against COVID-19. The reasons for these problems are twofold – production incapacity and accessibility; both of which have Intellectual Property Rights (IPR) at the heart of it. This paper examines the different IPR issues involving COVID-19 health technologies and their impact on equitable access to such technologies. It draws a comparison between Low and Middle Income Countries and High Income Countries to demonstrate the disparity in the present regime and its impact on the global fight against COVID-19. In light of the proposal at the WTO to enact a temporary waiver of the Trade Related Aspects of Intellectual Property Rights Agreement [TRIPS Agreement], it analyses the different exemptions under TRIPS – Compulsory Licensing, National Security Exemption, Patent Pooling - and their impact on bridging the disparity between different nations. Following a detailed analysis of the different exemptions, it analyses the anticipated effect of the waiver on the equitable dissemination of health technologies to conclude that, in the absence of technology transfers and stronger supply chains, a waiver alone is unlikely to achieve this goal.