Pharma, Biotech Players Step Up Efforts Against Coronavirus
Zacks Investment Research | Mar 27, 2020 08:50AM ET
Pharmaceutical and biotech industry players have joined the battle against the deadly coronavirus infection, COVID-19. Most of these companies are closely monitoring the situation and implementing plans to stay prepared for the protection of their employees and business as well as communities.
Business Operation Delays
Large-pharma companies namely Pfizer (NYSE:PFE) , and Lilly (NYSE:LLY) have decided to delay initiation of most of their new clinical studies and reportedly decided to drop its patent rights related to Kaletra anywhere in the world for all formulations. The drug is being used to treat COVID-19. Please note that Kaletra is not approved for treating COVID-19.
Coronavirus Impact
COVID-19 has so far affected almost 520,000 people across 190 countries, claiming more than 23,000 lives. The death toll in the United States has crossed the 1000-mark. Several countries are under lockdown to stop the spread of this deadly virus, which is also impacting their economies. The pandemic has derailed the ongoing multi-district opioid litigation in the United States. Original post
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