COVID-19 Vaccine Creation is a True Breakthrough: ACINO Ukraine CEO Talked to the SE MBA Class
22 March 2021
Yevhen Zaika, MIM-Kyiv MBA 2011, who is the CEO of the ACINO Ukraine and in charge of running its business in the CIS countries, discussed the pharma business and vaccines with the SE MBA class. He also mentioned that having two managers taking MIM-Kyiv MBA programs every year has become part of the company’s knowledge management system.
No wonder that vaccines and pharma businesses were the focal points of the discussion. In particular, Yevhen said:
- It takes 13 – 14 years to develop original products after the molecule is patented. The exclusivity period is 20 years. Ukraine adopted the Bolar exemption confirming that the exclusivity must not exceed 20 years. Thus, companies have 6 – 7 years to recoup the costs. If 5 years ago investing a billion dollars was enough, nowadays a billion and a half – two billion is not the limit.
- I believe that anti-COVID-19 vaccination is a true breakthrough. My pharma colleagues could not believe that the companies managed to deliver in such a short period. There are side effects and the trial period was much shorter, but the vaccine is being improved. Prices prove that the companies are saving people rather than doing business.
- Pharma is struggling to solve the last mile problem. Temperature is critical for the efficacy or rather safety of drugs, especially solutions. Transport validation and licensing are crucial for securing the patients' safety.