The Intelligence from The Economist Shot chasers: big pharma’s covid-19 boost
May 26, 2020
Vijay Vaithi Swaran, U.S. business editor for The Economist, sheds light on the dramatic shift in perceptions towards the pharmaceutical industry during the COVID-19 pandemic. He discusses how vaccine innovation has altered reputations and emphasizes the importance of equitable access, especially in developing nations. The conversation also touches on the ramifications of remote work on productivity and urban structures, alongside the escalating political tensions in Hong Kong, highlighted by a controversial history exam that reflects deeper societal issues.
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Big Pharma's Image Boost
- Big Pharma's reputation has improved due to its role in developing COVID-19 vaccines and treatments.
- The industry's focus on innovation is now seen as crucial in the fight against the pandemic.
Pharma's Shift in Focus
- Big Pharma companies were previously criticized for high prices and neglecting global health issues.
- The pandemic highlighted their innovation capabilities, leading to increased R&D spending.
Ethical Dilemmas for Pharma
- Vaccine nationalism and intellectual property rights are emerging ethical dilemmas for pharmaceutical companies.
- Governments may prioritize their populations, and there's a push for patent-free vaccines.