Pharma’s bid to redeem its reputation

Here's the latest news from the global pandemic. Virus tests spur political brawl over CDC shift, DOJ inquiry Dismissal of EU trade chief sets awkward precedent for bloc Japan's virus wave eases despite lack of government action Pharma's bid to redeem its reputation  Big Pharma has an image problem. In the fall of 2019, it came in dead last in Gallup's annual poll asking people to rank 25 industries from best to worst. As Joe Nocera says in his Bloomberg Businessweek essay on the sector's current attempt at reputation damage control, "Even the federal government was ranked above the pharma business." The race for a vaccine and therapies to mitigate the pandemic has given the likes of Gilead Sciences, Pfizer, Johnson & Johnson, and Moderna a chance to try to rehabilitate the very low expectations the public has of them. Many expect them to come up with the drugs—and then charge through the roof. While companies have made altruistic noises about the price of their coming vaccines and drugs, Nocera notes there's already been a dust-up over Gilead's pricing of remdesivir—a drug that's been on its shelf for a while and had some efficacy at alleviating the illness. After providing it free for "compassionate use," the company received government permission to use remdesivir as a coronavirus treatment. So it had to put a price on it. In the end, that was $2,340 for a full dose of six vials for Covid sufferers in the developed world, $3,120 in the U.S. and much lower for poorer nations. Nocera points out that it was Gilead that chose to charge $84,000 for a full, three-month course of Sovaldi, its cure for hepatitis C, a disease ravaging much of the world. Still, as he writes, "critics weren't exactly jumping for joy." That's because history has an example of real altruism. After he developed the first vaccine against polio, Jonas Salk was interviewed by Edward R. Murrow of CBS News in 1955. "Who owns the patent on this vaccine?" Murrow asked the scientist. "Well, the people do," said Salk. "There is no patent. Could you patent the sun?"—Howard Chua-Eoan  Latest podcast The FDA Is Under Pressure  Senior Editor for Health Care Drew Armstrong speaks to FDA Commissioner Stephen Hahn about the agency's role in an increasingly politicized federal virus response.   Sponsored Content by Siemens America's factories, power plants, transportation and hospitals all need technology and our technology is only as powerful as the people deploying and maintaining it. Keeping America moving takes more than technology alone. It takes a human touch. Siemens Ingenuity for life.   What you should read Louis Vuitton Designer Abloh Is Eternal Optimist "To me, as a creative, it's a time to show resilience," he says. Singapore's Coveted Expat Jobs Are Threatened Companies are increasingly encouraged to support domestic talent. Gag Rules at U.S. Firms Put Everyone at Risk Employees say they've been banned from alerting others to virus outbreaks. Covid Supercharges Wildly Profitable Games Video game sales have soared, though the industry has lingering issues. Your Toilet May Be Spreading the Virus SARS-CoV-2 may have wafted through building via waste pipes. Know someone else who would like this newsletter?  Have them sign up here. Have any questions, concerns, or news tips on Covid-19 news? Get in touch or help us cover the story. Like this newsletter? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. Follow Us Get the newsletter You received this message because you are subscribed to Bloomberg's Coronavirus Daily newsletter. Unsubscribe | Bloomberg.com | Contact Us Bloomberg L.P. 731 Lexington, New York, NY, 10022