EQRx has a bold strategy to disrupt biotech

Hello,

Welcome to Insider Healthcare. I'm Shelby Livingston, and I cover how healthcare is paid for and delivered in the US for the Insider healthcare team. Today in healthcare news:

• EQRx plans to disrupt the drug industry with lower prices, but industry insiders question its strategy;
• The FDA fully approved Pfizer's COVID-19 vaccine, a move that could boost vaccinations;
• Here's what biopharma companies like Novartis and Pfizer pay their scientists, doctors, and engineers.

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Do you have comments or tips about health insurers or healthcare providers? Email me at slivingston@insider.com or tweet @ShelbyJLiv.

EQRx has an ambitious plan to undercut the entire biotech industry with cheaper drugs. Can it work?

• EQRx is raising billions of dollars, and an even bigger debate, with an ambitious drug-pricing plan.
• The biotech plans to price drugs 50% to 70% below competition - a radical approach in the industry.
• While EQRx is closing a massive SPAC deal to go public, skeptics question its strategy and hype.

Catch up on the latest here>>

The FDA just fully approved Pfizer's COVID-19 vaccine in a move that could lead to more vaccinations

• The Food and Drug Administration on Monday fully approved Pfizer-BioNTech's coronavirus vaccine.
• The two-dose shot is now the first and, so far, only COVID-19 vaccine to get full FDA approval.
• The shot was previously OK'd under emergency-use authorization, a more flexible regulatory standard.

Read the full story>>

Biopharma salaries revealed: How much companies like Novartis, Pfizer, Johnson & Johnson, and Moderna pay scientists, engineers, doctors, and lawyers

• The pharmaceutical and biotech sector has experienced massive growth during the pandemic.
• Some firms are offering new hires in areas like engineering and data science six-figure salaries.
• We analyzed data for companies like Novartis, Moderna, and Pfizer to find out how much they pay.

Find out more>>

More stories we're reading today:

• The pandemic created a bunch of biotech billionaires. Take our 5-question quiz to see how well you know the pay trends shaping the drug industry. (Insider)
• How the U.S. vaccination drive came to rely on an army of consultants (The Washington Post)
• Pandemic unveils growing suicide crisis for communities of color (Kaiser Health News)
• I'm in New Zealand, where a single COVID-19 case sent the whole country back into lockdown. It's scary, but it's the right thing to do. (Insider)
• How the Delta variant has changed the course of the pandemic (Insider)

- Shelby