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I want to break down what I and others mean when we say that pharmaceutical companies did not properly prepare for #COVID19 despite previous warnings we could have a pandemic.
Did big pharma know COVID-19 was impending? Of course not.
But, there was a general consensus that previous coronavirus outbreaks like SARS and MERS could become global disasters. See this @NYTimes article for more. https://www.nytimes.com/2020/04/21/magazine/pandemic-vaccine.html
But, there was a general consensus that previous coronavirus outbreaks like SARS and MERS could become global disasters. See this @NYTimes article for more. https://www.nytimes.com/2020/04/21/magazine/pandemic-vaccine.html
So, what was done with the knowledge of that massive public health threat?
Not enough. Global R&D investment for neglected diseases is around $4b. Of that investment, the private sector contributed just 17% - not even 1/10th of the revenue of the top 20 pharma companies in 2019.
Not enough. Global R&D investment for neglected diseases is around $4b. Of that investment, the private sector contributed just 17% - not even 1/10th of the revenue of the top 20 pharma companies in 2019.
This is despite the WHO's warning back in 2015 that market-driven models of R&D do not cater for sporadic or unpredictable diseases.
And we still don't have any treatments for Zika, SARS or MERS. https://bit.ly/2yrnc5C
And we still don't have any treatments for Zika, SARS or MERS. https://bit.ly/2yrnc5C
There are lots of (troubling) reasons for the disconnect between need and action.
For one, outbreaks rarely last long enough to ensure the private sector gets their ROI. Also, poor people in low-income countries often affected by these diseases don't = a profitable market.
For one, outbreaks rarely last long enough to ensure the private sector gets their ROI. Also, poor people in low-income countries often affected by these diseases don't = a profitable market.
But now that #COVID19 is affecting the economies of the richest countries, we are seeing $ billions of dollars being invested on new vaccines and treatments. The same happened with the recent Ebola outbreak.
In the case of #COVID19 (and many other public health crises) the current market-based model incentivises companies to find new ways (like patent manipulation) to keep existing drugs profitable instead of conducting R&D into new drugs/vaccines for public health.
I wrote more about that dynamic here: https://bit.ly/2ZqkW9C
Ultimately, our system for new drug/vaccine development did not prepare us for when we needed it most. The time to reimagine this model is now.
