Effects of the COVID-19 Pandemic on Pharmaceutical Companies' Performance: Whether the Disease Nurtured or Stifled the Global Pharmaceutical Industry

The COVID-19 pandemic, which started in Wuhan, China at the end of 2019, spread all over the world and has killed more than seven million people. In 2020, the pandemic affected almost all of the countries of the world, forcing many countries to close their borders. Substantial damages were sustained by almost all economies, including the pharmaceutical industry. However, recent financial reports showed that numerous pharmaceutical firms, including so-called Mega-Pharma and venture companies, have achieved favorable financial results. This study examined the effects of the COVID-19 pandemic on pharmaceutical firms and identified the drivers of excellent/compromised financials in these enterprises. This analysis is expected to help countries fight with the next pandemic.