As the Covid-19 pandemic continues to force drastic change in everyday life, the effects on the pharmaceutical industry are no less profound. Although drug makers are still regularly demonized over their pricing, their proverbial stock has, nonetheless, risen in the public eye thanks to the desperate need for treatments and vaccines to combat the coronavirus. But what are those changes looking like? And what might they mean going forward? To gain some insight, we chatted with Kenneth Moch, a former board member of the BIO trade group who once ran several small drug companies. Moch is now a senior advisor to the Global Health Crisis Coordination Center, a coalition of companies and nonprofits that assists public officials during health crises. This is an edited version of our conversation.
How is the pandemic changing industry thinking about where to devote resources?