Pay Now or Pay More
Abstract: There is no way to tell exactly what the economic damage from the COVID-19 impact will be, but initial estimates predict most major economies will lose at least 2.4 percent of their GDP over 2020 as a whole (OECD 2020). To put this number in perspective, global GDP was estimated at around 86.6 trillion USD in 2019. Every single 1 percent drop in global economic growth amounts to almost 1 trillion USD in lost economic output. Based on the Ebola outbreak in 2014 and the ongoing COVID-19 pandemic, this article underlines the economic importance of constructive partnerships between government and the pharmaceutical/biotechnological industry. This is especially the case when it comes to the availability of medical countermeasures against rare, but deadly diseases.
Johnson, M. L. (2020, August). Pay Now or Pay More. CBRNe World, 46.