The global coronavirus epidemic is impacting individuals and businesses across the world. First and foremost this is a human tragedy, causing suffering to thousands worldwide. While different governments are taking different approaches in jurisdictions globally, the overarching aim is to contain the spread of the virus and therefore minimise casualties while also managing demand on overstretched healthcare systems. This comes with significant economic costs as whole sections of the economy are temporarily closed, leading to job losses and economic contraction.
Never before has innovation been so important. Whether it’s pharmaceutical companies searching for a vaccine or medical device manufacturers switching to the production of ventilators and other crucial medical equipment, innovation will be key in meeting the challenges posed by Covid-19.
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