Posted by Michael Wonder on 15 Jan 2021
Funding of pharmaceutical innovation during and after the COVID-19 pandemic
14 January 2021 - The COVID-19 pandemic has highlighted the available mechanisms for funding research, development, manufacturing, and distribution in the life sciences.
The traditional innovation strategy started with scientific discovery supported by grants from governmental and philanthropic sources, followed by product commercialisation supported by pharmaceutical industry revenues and capital investments.
According to one estimate, governmental and philanthropic grants fund approximately one-third of the total investment in the life sciences (estimated total investment of $194.2 billion in 2018) and the life sciences industry funds the remainder.
