By Denise Roland

 

Drug company bosses say the industry is focused on finding treatments and vaccines for the novel coronavirus, not profits.

"We know this is the moment this industry needs to rise to the occasion and marshall every bit of scientific know-how we have to solve this problem," said Eli Lilly & Co. Chief Executive David Ricks. "The spirit across the industry is one of cooperation, of speed and applying our scientific know-how to fix the problem."

"No one asks how we will get paid or who will get the credit," he added, while speaking at a panel organized by the International Federation of Pharmaceutical Manufacturers and Associations trade group.

Mr. Ricks said it was unclear at this stage how a company would allocate any eventual drug or vaccine, but that they would work with global agencies and governments to "make sure scarce resources get to the most in need."

Severin Schwan, chief executive of Switzerland's Roche Holding AG, said sales of the company's diagnostic test, which won emergency approval from the Food and Drug Administration last week, won't be material for the company.

 

(END) Dow Jones Newswires

March 19, 2020 14:53 ET (18:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Roche (QX) (USOTC:RHHBY)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Roche (QX) Charts.
Roche (QX) (USOTC:RHHBY)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Roche (QX) Charts.