Investors call on pharmaceutical firms to team up in Covid-19 fight

Dutch and international investors are calling on the pharmaceutical industry to set profits aside and work together in the fight against Covid-19. About sixty investors signed a letter sent to the pharmaceutical companies they invest in on Thursday, NRC reports.

The investors point out that pharmaceutical companies are responsible for the development and global distribution of coronavirus vaccines, medicines and tests. "Patent enforcement, excessive pricing, concealing relevant research data and obtaining 'market exclusivity' should not stand in the way of [that responsibility]," the investors wrote.

They called on pharmaceuticals to instead opt for openness and collaboration, both among themselves and with universities and governments.

The signatories of the letter include large Dutch insurers and pension funs Achmea, ABP, PGGM, and ASR, as well as well-known foreign parties like AXA, Nordea and Nomura. Together the investors manage about 5,000 billion euros in assets, according to NRC.