Since the emergence of the novel coronavirus (COVID-19), biopharmaceutical companies have stepped up their efforts and are engaged in research efforts to develop vaccines and treatments in order to contain the virus.
Currently a number of existing and new treatments are in various research phases and clinical trials to test their efficiency and safety for treating COVID-19.
While vaccines and small molecule treatments are approved through different regulatory pathways and their development programs vary, they generally both must complete three phases of clinical trials. Experts are hoping it will take as little as 12 to 18 months before there is a vaccine available. This is a best-case estimate that assumes one or two of the first few vaccines that enter development will be successful. Typically, only approximately one in ten experimental vaccines make it all the way through to regulatory approval. Therefore, the more companies taking different approaches to find a vaccine, the more “shots on goal” and significantly greater chances of success.
We are proud that many AmCham Members participate in finding effective treatments and vaccines to tackle the virus. Please read more on their R&D efforts here.
