Updated: Oct 4, 2020
The Covid-19 pandemic has orchestrated a global health crisis, that requires bold thinking and fast action, fast-tracking collaborative solutions to the pandemic. Global partnerships are exploring innovative solutions and clinical trials are underway to accelerate vaccine development. Multiple vaccine research initiatives, leading think tanks, and pharmaceutical powerhouses are working together to ensure vaccines are available before we exit 2020.
The Covid-19 pandemic has seen heartening collaborations amongst pharma giants for the greater good - to fight Covid-19 - and bring some semblance to life. Significant efforts are underway to diagnose, treat, and prevent infections caused by the virus with R&D heads of leading pharma giants meeting several times a week to coordinate a joint response to the pandemic. Trials of several drugs to treat coronavirus are already underway. The pandemic has placed emphasis on the manufacture and supply of pharmaceuticals to all countries globally, irrespective of economic and political clout.
Collaboration is critical in this fight against Covid-19 – agility in action, comprehensive research, well-documented audit findings, and standardized protocol provisions, all see glowing outcomes through strong collaboration.
In the fight against Covid-19, Melinda and Bill Gates Foundation brought together a number of life sciences companies. The global collaboration ensures several pharmaceutical giants can share resources, technical solutions, and funding for innovation to accelerate the development and delivery of coronavirus tests and therapies. These companies are working relentlessly to edge closer towards a COVID-19 free world through global accessibility and availability of treatments, vaccines, and diagnostics.
Governments, life sciences companies, pharma conglomerates, all stand united in this quest to eradicate COVID-19. It is the first time in history that major rivals in the pharmaceutical industry have joined hands to fight for a common cause, keeping corporate gains aside. The agility of their response is complimentary, with more than 30 partnerships at work in various phases across the globe. These collaborations could possibly change the future of the pharma industry. If the outcome of these collaborations is beneficial, it is likely that multi-industry collaborations will co-exist in the future. This could very well be the most welcome evolution in the pharmaceutical industry.
The large scale of these collaborations is unifying their assets and arming them to help meet the urgent and massive global demand for diagnostic and preventive solutions for the virus. Most of these companies have partnered to develop a vaccine and, the global race is being closely monitored, with hope and desperation. The vaccine seems the only way to curb the bleeding from the huge disruption and economic damage. Nobody knows how and when this pandemic will end but one thing is clear a multitude of innovations and collaborations will play an important role in ensuring the next million deaths are prevented, and advances in technology help curtail future pandemics.
Collaboration and innovation will be the new normal for the pharma industry, not just in vaccine development but also in stakeholder communication. Digitalization will facilitate the future transformation of the pharma industry. We can only hope we see these collaborations replicated across not just in the pharma industry, but also in global government partnerships, will shape the best health and wellbeing policies for all humanity.