Pfizer Hopeful to Present COVID-19 Vaccine by October 2020
As the world battles COVID-19 pandemic with social distancing and lockdown, biopharmaceutical companies continue to strive for more aggressive investments towards multiple causes to support healthy business goal achievement.
Pfizer a behemoth in pharmaceutical industry has adorned a slew of innovations up its sleeve to back its unbeatable stance in medical industry. As part of its most recent developments, Pfizer is touted to have made a hefty investment worth $500 million to support its initiative towards offering necessary support for several biotechnology companies dedicated towards clinical trials and innovations.
As part of its most recent development, Pfizer has announced the development of Pfizer Breakthrough Growth Initiative worth $500 million to support small scale biotechnology companies in accessing Pfizer’s high-end scientific capabilities for advanced clinical stage development concerning a range of medical conditions.
In the words of John Young, Chief Business Officer, Pfizer, the company is looking forward to support small scale companies dedicated towards developing and delivering high end transformative therapies across patient pools.
This novel Pfizer Breakthrough Initiative is set to enable equity investments of non-controlling nature, concerning the efforts of clinical stage dedicated biopharmaceutical companies, specially focusing towards immunology drug development, oncology, internal medicine, vaccines for various rare diseases and the like.
Additionally, towards developing concrete solutions for COVID-19 drug development, Pfizer leader Albert Bourla who had recently participated in International Federation of Pharmaceutical Manufacturers & Associations program affirmed the company’s novel initiatives towards developing new drugs. IN this regard, Pfizer has successfully collaborated with BioNTech and J&J backed by US Biomedical Advanced Research and Development Authority to make significant advances towards developing new vaccines for novel corona virus. Under these developments, Pfizer is hopeful to present the latest COVID-19 vaccine by October this year. Most of the vaccine development initiatives are underway across several parts in the US and Europe.