Write an essay of no more than 1200 words discussing this statement, ‘The pandemic has shown that high profits for pharmaceutical companies are vital for innovation; these companies should therefore not be regulated by the competition authorities.

Economics by Geoffrey

Drawing on economic analysis from the module as well as at least one of the extracts below, write an essay of no more than 1200 words discussing this statement, ‘The pandemic has shown that high profits for pharmaceutical companies are vital for innovation; these companies should therefore not be regulated by the competition authorities.
Competition and Markets Authority. (2020) ‘CMA secures affordable supply of key bipolar drug’.
Competition and Markets Authority. (2020) ‘CMA fines Pfizer and Flynn £90 million for drug price hike to NHS’.
Neville, S. et al. (2020) ‘AstraZeneca’s $39bn Alexion deal marks shift from prey to predator’, Financial Times, 14 December.
Desmyter, S. (2020) ‘The ESG case for the Oxford/ AstraZeneca vaccine’, Financial Times, 23 December.