- #456
StatGuy2000
Education Advisor
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kadiot said:The first effective COVID-19 vaccine will rake in trillions in profits.
I've worked in the pharmaceutical sector for years, including at a pharma company division specializing in various types of vaccines, and have worked as a biostatistician on several vaccine trials.
Research on vaccine development can be time-consuming and expensive due to the strong requirement for safety testing and testing of immunogenicity, organization of sites for clinical trial testing, etc. And that is just on the Phase I-III clinical trial testing phase. Any early development of vaccines involve animal and/or genomic work, not to mention ramping up production, often using production facilities already devoted to other types of vaccines (flu, MMR, diphtheria, etc.)
On top of all of that, vaccines are typically purchased from the pharma companies to public health agencies across different nations, where prices are generally negotiated and fixed.
The upshot is that while a COVID-19 vaccine can potentially be profitable for the pharma company developing it, it will not rake in trillions. Not even close.