Coronavirus Update: Drug Launches Could Be Hit, New Twist In CureVac Controversy, Moderna Doses First Patient
Latest From Unfolding Crisis
As western Europe and the US roll out the next wave of lockdown measures to limit the spread of COVID-19, biopharma is continuing efforts to accelerate therapies and vaccines, including Moderna starting Phase I trials.
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Development of vaccines usually takes years, but drug makers whittled the process down to a matter of months amid a concerted response to a global health threat.
Flagship Pioneering raised $1.1bn to fund life science companies emerging from Flagship Labs. ARCH, another frequent start-up co-founder, raised two funds totaling $1.46bn to back early-stage biotech.
Global spending on medicines will continue to increase through 2024, but at a lower rate than the previous five years due to the impact of discounts, rebates and patent expirations.