As the Covid-19 pandemic continues to spread and with the US due to extend their travel ban imminently, the travel industry is one of many that are set to be hit hard by this outbreak, but does that mean all industries will be effected?
Ultimately no, and one that looks to potentially thrive is the pharmaceutical industry. Whilst they may still feel the impact that other businesses and industries are experiencing, could the stock prices of these companies sky rocket?
Teva, a company who are currently actively working with the World Health Organisation (WHO), have seen their stock price increase in 2020 and Pfizer, who develops and manufactures medicines and vaccines and are listed on the New York Stock Exchange, might be seeing a 3 year low on their stock price but could the pandemic change this? Could they be someone to collaborate with Erasmus MC and Utrecht University, who this week have claimed to have found an antibody for Covid-19 and are now awaiting a pharma company to come on board?
However, this then leads to the moral question ‘Is it right for this industry to not only survive but profit?’ There have been calls in the US for a limit to be put in place for how much pharmaceutical companies can make from this and that any company who receives public funding to find and produce a vaccines, subsequently must make it accessible, available and affordable for all. In the UK, with an establishment such as the NHS does the same question apply?
Much like Covid-19 this subject brings a lot of unknown questions, the future is uncertain but it does look like the pharmaceutical industry will be one of the few industries to come out of this pandemic, largely unscathed.