Big Pharma’s Big Failure: Two Years Into COVID-19
- By Matthew Tibble
- 6 min read
Summary
- Underdogs like Moderna, BioNTech and the University of Oxford beat big pharma companies like Merck, GSK and Sanofi to create Covid-19 vaccines.
- The key was big pharma thinking vaccine development was high effort, low reward. They focused instead on existing franchises, such as cancer medication.
- With less to lose, newcomers took exceptional funding from governments and venture capital to revolutionise the vaccine development process.
Macro Implications
- With new processes and regulations for vaccine development, we are better equipped to deal with future pandemics.
- Proven profitability and new money in vaccine development imply breakthroughs for existing viruses like RSV, CMV, and Aids.
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