“Finance plays a huge role, sometimes way too big a role, in how drugs get developed."
Andrew Lo says that what the government did this spring was to “put the economy into the equivalent of a medically induced coma.”
Andrew Lo says: "We actually have the ability to develop therapeutics for many of these diseases, if not cures. So, why aren't we doing it?"
"Factors such as size, management, and investment allocation significantly affect how much revenue endowments generate."
To address COVID-19 and many other diseases, governments around the world need to have systemic policies for funding vaccine development.
“Endowments are usually thought of as rainy-day funds for NPOs to help them survive crises like the COVID-19 pandemic.” says [Prof. Andrew] Lo.
Prof. Lo says: “...there's been only one vaccine approved. That's worrisome, because we know for a fact that these diseases are real threats.”
Prof. Andrew Lo says "In the midst of an outbreak...we need to be less concerned about false positives and more concerned about false negatives."
