- Pharmaceutical companies’ value to society has rarely looked so bright
- For investors, valuing drugmakers is a more slippery task
Eighteen months ago, perceptions of big pharma were very different from today. This was a sector more often hit with allegations of predatory drug pricing than praised for its therapeutic discoveries. A sector directly implicated in America’s opioid addiction crisis. A sector earmarked for reform by US presidential candidates as they prepared for the November election, having topped the political agenda for decades.
But then Covid-19 arrived. And with it, everything changed. As the pandemic wreaked havoc in country after country, the world’s largest pharmaceutical and biotech companies launched into action – repurposing existing therapies, accelerating the development of new treatments and, above all, striving to find a vaccine that could halt the proliferating disaster.