Pfizer’s boss thinks covid-19 is reshaping Big Pharma for the better

pfizers boss thinks covid 19 is reshaping big pharma for the better

Sumary of Pfizer’s boss thinks covid-19 is reshaping Big Pharma for the better:

  • He is talking about the giant American drugmaker speedy development (with BioNTech of Germany) of a vaccine against covid-19..
  • When Gallup, a pollster, asked Americans in 2019 to rank two dozen big industries by favourability, the drugs business came in last..
  • That year its bosses were subjected to a Big Tobacco-style bipartisan hazing in Congress, which threatened price controls..
  • John Reed, head of research and development (R&D) at Sanofi, a French giant, says the pandemic has pushed decision-making lower down the corporate ladder, helping his firm move with a greater sense of urgency..
  • David Ricks, who runs Eli Lilly, another big American drugmaker, has said that virtual trials could prove faster and better, as well as bringing in harder-to-reach populations, for instance in rural areas..
  • Andrew Badley of the Mayo Clinic, a leading American hospital chain, argues that drugmakers’ boffins are for the first time making good use of unstructured data such as clinicians’ notes..
  • McKinsey Global Institute (MGI), the consultancy in-house think-tank, calculates that the shift to digital sales could raise industry-wide productivity by a quarter, since it means a smaller staff and leaner budgets in marketing and sales departments, which account for nearly 40% of drugmakers’ operating costs….

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