Large pharmaceutical companies and insurance companies have played a central role in this pandemic. They are racing to find scientific solutions to the nightmare virus and bear related costs, such as Covid19 testing. But the pandemic is also good for many healthcare companies.
USHEALTHVIRUS
Johnson & Johnson, which has developed a single injection of the Covid19 vaccine, is the world’s largest public health company as of mid-April. (Photo by Frederic J. BROWN/AFP) (Photo by FREDERIC J. BROWN / AFP via Getty Images) A ​​FP VIA GETTY IMAGES.
Consumer and pharmaceutical giant Johnson & Johnson has developed the third vaccine approved for use in the United States. It ranks # 1 among healthcare companies and # 1 in 2021 globally. rankings 34 list 2000. The company’s stock has risen steadily over the past six months, although the company‘s April launch of the vaccine in the United States was suspended for 10 days due to reports of rare vaccine-related blood clots . After two committee hearings, the US Food and Drug Administration reiterated its decision to provide Johnson & Johnson vaccines to anyone over the age of 18 in the US Johnson & Johnson has vowed not to benefit from its only vaccine during the pandemic. The pharmaceutical business, consumer units and medical device groups all performed well last year. Johnson & Johnson’s revenue increased 6% in 2020, reaching $ 82.6 billion.
The financial impact of Covid19 vaccine production is sometimes complicated. Pfizer collaborated with the German company BioNTech to develop the first licensed Covid19 vaccine in the United States, ranking third on the list. In a earnings report released in May, Pfizer stated that its vaccines generated US$3.5 billion in global revenue in the first three months of this year. But this did not help Pfizer’s stock price, which was the same as it was two years ago. Sanofi’s Covid19 vaccine is still under development, but this has not stopped the company from climbing 45 to 7th on the global list.
In addition to healthcare and pharmaceutical companies, large American insurance companies also withdrew from the pandemic and became the winner of the pandemic. Although earnings initially fell due to patients staying home under various shelter-in-place restrictions, they recovered at the end of the year. One document found that: “The decline in the proportion of elective care during the pandemic reduced health care expenses and doubled last year’s income.”
Glendale Exteriors and Landmarks 2020
Cigna insurer performed well overall. (Photo: AaronP / BauerGriffin / GC Images) Image from GC
UnitedHealth Group is the largest insurance company in the United States, ranking 21st overall, followed by Cigna, 53rd overall. Cigna saw an increase in costs in the fourth quarter of 2020, when people began seeking treatments that were delayed when the pandemic began. A Deloitte report indicated that in the short term, “the restrictions mean that elective procedures and consultations have been greatly reduced, and subsequent claims have also been reduced.” But overall, the company performed well: Its profits increased from $ 5.1 billion in 2019 to $ 8.5 billion in 2020, an increase of 67%.
What will 2021 bring to the healthcare industry? Commonwealth Fund experts believe that the insurance industry’s transition to value-based care will continue to accelerate. At the same time, drug companies will be looking at which Covid19 vaccines are fully FDA approved in the coming months. “Biopharmaceutical innovation is developing at an alarming rate in 2020, McKinsey analysts wrote in a recent blog post. “The lessons and actions the company has learned from this extraordinary year will likely determine its success for years to come.

By Peter

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