How coronavirus is disrupting the business of biotech
Clean labs, safe clinical trials, and the free flow of capital are all essential to get things done in biotech. And each is imperiled by the coronavirus outbreak, creating headaches for companies trying to keep their employees healthy and their science intact.
As STAT’s Adam Feuerstein reports, biotech executives are losing sleep over coronavirus, as a global pandemic has led to shutdowns, restrictions, and a stock market swoon. The top priority is minimizing the risk to workers, executives said, but then come concerns about delays to clinical trials that rely on overburdened health systems and worries that raising capital — essential for biotech companies with no revenue — could be constrained by global financial panic.
“I’ve been in a constant text stream with other biotech CEOs,” said Nick Leschly, head of Bluebird Bio. “We’re all sharing information about what’s best to do.”
Read more.
As STAT’s Adam Feuerstein reports, biotech executives are losing sleep over coronavirus, as a global pandemic has led to shutdowns, restrictions, and a stock market swoon. The top priority is minimizing the risk to workers, executives said, but then come concerns about delays to clinical trials that rely on overburdened health systems and worries that raising capital — essential for biotech companies with no revenue — could be constrained by global financial panic.
“I’ve been in a constant text stream with other biotech CEOs,” said Nick Leschly, head of Bluebird Bio. “We’re all sharing information about what’s best to do.”
Read more.
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