Pharmaceutical Firms Cashing In Thanks To The Swine Flu (H1N1) Virus
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Pharmaceutical Firms Cashing In Thanks To The Swine Flu (H1N1) Virus
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The H1N1 Pandemic may be a rising concern not only for citizens of the world and their governments but it means a multimillion bonanza for pharmaceutical companies who are raking in earnings when it comes to the numerous medications for the common flu as well as the swine flu virus.
The swine flu virus has hit the whole world hard, and when people started to experience its symptoms from a single incident in countries like Mexico. The fear of the swine flu virus has caused huge panic all over the world, prompting governments to rush their orders of the vaccine.
One of the companies leading the pack in providing swine flu vaccines to the world market is British pharmaceutical company Glaxo Smith Kline. The company is said to be in talks with well over 50 countries on top of the swine flu vaccine orders it already got from 16 countries.
Just stop and imagine for two seconds just how much these pharmaceutical companies are going to make from this global pandemic. Millions upon millions of people are in demand for these companies to produce vaccinations for the H1N1 virus, and at the end of the day, this is where these companies make their money.
Reports show that a total order of 195 million doses of the swine flu vaccine has already been received by the company even before the vaccine is ready for take out. The company started developing the swine flu vaccine June last year and started shipping the first doses of the vaccine last September.
Glaxo Chief Executve Officer Andrew Witty has even confirmed that a substantial number of orders for the vaccine are expected in the months to come. So far, the United States has paid just one pharmaceutical company $250 million for the vaccine ingredients alone. A total of 60 million doses of the swine flu vaccine have already been ordered by Britain.
In the meantime, countries the world over can expect a threefold increase in the production of inhalable anti-viral flu treatment Relenza considering the increase in sales of the product. GSM earned $99 million from the sales of Relenza as of June last year, which is a substantial increase compared to the $5 million sales during the second quarter of 2008.
Glaxo is however not the only company that is expected to make huge profits from the swine flu pandemic. Among the other companies that are also developing their own swine flu vaccine are Novarties, Baxter International and Sanofi-Aventis.
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