In this ongoing video series on COVID-19, Biotech Analyst Agustin Mohedas discusses how new technology and government funding are helping accelerate vaccine development for COVID-19 – and could potentially benefit the biotech sector over the long term.
- The COVID-19 crisis has helped to highlight biotech’s impressive medical advances. Whereas historically vaccine development has taken an average of seven to 10 years, today companies are on track to create a COVID-19 vaccine in seven to 10 months.
- Government aid is also speeding vaccine development. Such assistance could be particularly beneficial to small-cap biotechs, which could use COVID-19 research to validate nascent drug platforms.
- In the lead-up to the U.S. presidential election, the crisis could shift the political discourse around health care, underscoring the importance of improving patient access while safeguarding incentives for innovation.
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