Pandemic Spotlights Tensions Between Profit And Philanthropy
Competition Remains Amid Industry’s Remarkable Efforts to Fight COVID-19
The COVID-19 pandemic has triggered extraordinary levels of collaboration. But competition remains, and many newly created coalitions have yet to be stress tested.
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The pandemic has brightened pharma’s image, but drug pricing is still high on the political agenda. For US and European politicians, the health crisis has heightened the tension between supporting innovation and controlling rising costs.
COVID-19 has triggered a dramatic shift toward virtual consultations and telemedicine, encouraged by more relaxed regulations and payer support.
As the global shut-down caused by the coronavirus pandemic continues, sponsors are rushing to adapt clinical trials that can move to partial or completely remote monitoring, allowing patients to remain in their homes but continue to participate in studies. And the outbreak may have another silver lining for the biopharma industry, a chance to rebuild its reputation.