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Covid vaccine gives pharma a shot at redemption and profits

Companies were reluctant to pursue a vaccine until two factors changed the commercial calculus: The sheer extent of the pandemic and the unprecedented levels of state funding.

Another trigger was intense and unprecedented investments from public bodies, which de-risked research and development, according to Mr Hale.

IN THE early stages of the Covid-19 pandemic, there was a protracted silence as some of the world's leading pharmaceutical companies reflected on a long and unprofitable history of responding to outbreaks of infectious disease.

The first cases of coronavirus were identified in China in...

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