The Business Update with Vivian Benishek
Wednesday, August 19, 2020
Taking the Pulse: The High Stakes of Vaccine Research, Coupled with Cash & Politics
Times are getting tougher. In the midst of a global pandemic, the rush to develop a vaccine against COVID-19 has been a high priority for many doctors and scientists. However, creating a safe and useful treatment is a long and meticulous process, requiring much research and testing. A report from Noticias Telemundo shared the story of Tina Neira, a 74-year-old grandmother of Mexican origin living in Austin, Texas who had decided to participate in a paid clinical trial of an experimental mRNA-1273 coronavirus vaccine from the company Moderna. The study requires thirty thousand volunteers to be injected, of which 18% must be Latino because this is the approximate percentage of the Hispanic population in the U.S. In addition to wanting to protect the health of her grandson and her three children, Tina was attracted to participate because of the financial incentive of $90 per doctor visit and $25 per questionnaire about her mental and physical condition. And the money most definitely adds up. She could make $630 by making seven hospital trips over the course of a month and a half. This method of compensation plays an important role in attracting diverse patients from different ethnic backgrounds, professions, and eating habits. These data collection steps are critical to ensuring the effectiveness of the vaccine.
So where does politics come in? For years, the close-knit relationship between healthcare and politics has been a rocky road, one that is filled with disagreements and tension. You certainly can’t have one without the other. Although President Donald Trump has repeatedly mentioned that a vaccine will be available before this November’s election, many experts do not believe so and predict that it will be available early next year after Phase 3 trials. There is still much to be done. Moderna has spent nearly $2 billion on vaccine development, including funds from the government’s Department of Health and Social Services and the Coalition for Epidemic Preparedness Innovations led by tycoon Bill Gates.
So far, the vaccine appears highly advanced and revolutionary because it delivers genetic information to the cells that generate immunity. However, it isn’t nearly as lucrative as investors hoped for it to be. According to Trefis, there are now seven major clinical trials initiating human testing and “a larger number of successful candidates could reduce the volume potential for Moderna’s vaccine.” In other words, there is clearly more than one player in the game of finding a vaccine, which automatically raises the stakes and increases competition. These are contributing factors as to why its stock has dropped by about 30% in the last month, plummeting from $94.85 per share to $68.56 as of 8:57AM on Wednesday, August 19, 2020. It is important to keep in mind that citizens like Tina Neira have high expectations for the vaccine and hope these big medical corporations will do everything in their power to keep them safe.
So what’s my point-of-view in all of this? I believe that the COVID-19 vaccine should be created with maximum efficiency and should be distributed to the most vulnerable in our nation. As a young woman of Hispanic descent, I believe it is very important to have a diverse volunteer group representing different types of ethnic backgrounds and lifestyles. It’s also a clever opportunity to earn extra money during the pandemic and at the same time help advance medical research on the coronavirus. With Moderna as a frontrunner in the race for a COVID-19 vaccine, it’s crucial to not lose sight of the end goal of helping areas that have been disproportionately affected by the virus.
At this point, there’s no going back and we have to keep our head in the game as a nation. It’s time to get to work. And we need to do so fast As in, right now.
That’s it for this briefing. See you next time!
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