As Billions In Taxpayer Funds Are Pumped Into COVID-19 Therapies, Pharma Walks Tightrope On Pricing
The eyes of the world are on the pharmaceutical companies racing to develop therapies for COVID-19. But it's still unclear whether they will use the crisis to try to improve their reputation that's taken a hit in recent years over price gouging.
The Washington Post:
Financial Speculation Surrounding Coronavirus Drug Developed With Taxpayer Money
Ridgeback Biotherapeutics had no laboratories, no manufacturing facility of its own and a minimal track record when it struck a deal in March with Emory University to license an experimental coronavirus pill invented by university researchers with $16 million in grants from U.S. taxpayers. But what the tiny Miami company did have was a willingness from its wealthy owners — hedge fund manager Wayne Holman and his wife, Wendy — to place a bet on the treatment in the midst of the coronavirus pandemic. That wager paid off with extraordinary speed in May when, just two months after acquiring the antiviral therapy called EIDD-2801 from Emory, Ridgeback sold exclusive worldwide rights to drug giant Merck. (Rowland, 6/11)
In other pharmaceutical news —
Reuters:
Japan's PeptiDream To Work With Merck In Developing COVID-19 Therapies
Japanese drug-discovery company PeptiDream Inc said on Friday it would collaborate with Merck & Co in developing COVID-19 therapies. The companies will work to develop peptide therapeutics that may be effective against multiple coronavirus strains, they said in a release. The agreement builds on a research and licensing partnership announced in 2015. PeptiDream specialises in constrained peptides, types of amino acids that can carry various cargoes to specific types of cells. (6/11)
CIDRAP:
Regeneron To Begin Trials For COVID-19 Antibody Cocktail
Biotechnology company Regeneron Pharmaceuticals said today that it is launching a series of clinical trials to test the safety and efficacy of an investigational antibody cocktail for the treatment and prevention of COVID-19. According to a company press release, Regeneron, of Tarrytown, New York, will conduct placebo-controlled trials of REGN-COV2 at multiple sites in four different populations: hospitalized COVID-19 patients, non-hospitalized patients with COVID-19 symptoms, uninfected people in high-risk groups such as healthcare workers, and uninfected people in close contact with infected patients. (Dall, 6/11)
