Historically, given the fundamental societal need for medicines regardless of economic conditions, the pharmaceuticals sector has been largely resistant to recessions –and has also generally been less severely impacted than other sectors by COVID-19. Indeed, in many ways the pandemic has put the industry into ‘surge’ mode. Companies are experiencing high demand for select products and have even been forced to discontinue some of their initiatives to focus on producing critical supply for COVID-19 management and treatment and medical technologies that best position pharmaceuticals for the new reality.
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