The Coronavirus’ Effect on the Biotech, Pharmaceuticals & Genetics Industry

The Coronavirus pandemic created immense demand for preventative vaccines, and also for treatment therapies for patients suffering from the virus. Billions of dollars are being invested in research. A new drug therapy traditionally takes from 10 to 15 years to research, develop, put through clinical trials and get into the hands of doctors. Historically, new vaccines have also taken as many as 10 years to get to market.

Continuing mutations of the virus will keep Coronavirus research and vaccines at the forefront of the biotech industry for an extended period. With amazing speed, global demand and unprecedented levels of investment resulted in the production of a Coronavirus vaccine in less than 12 months. In the U.S., the Trump administration launched “Operation Warp Speed,” making an historic push to bring vaccines and therapies to market quickly. Billions of federal dollars were made available for research and development at private companies. Manufacturing capabilities had to be boosted at the same time.

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The Coronavirus’ Effect on the Biotech, Pharmaceuticals & Genetics Industry, Business and Industry Trends Analysis

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