Question: Hi I need some help formulating a graph for this question. As a graduate analyst working in the Australian division of a multinational consultancy group,
Hi I need some help formulating a graph for this question.
As a graduate analyst working in the Australian division of a multinational consultancy group, you are tasked with preparing a discussion paper on key aspects of the pharmaceutical industry. This is motivated by a recent call to change intellectual property right laws to address issues around access to vaccines against Covid-19 (see Lipson, 2001).
Illustrate and explain how a pharmaceutical company with a patent for a coronavirus vaccine determines output and price. A recent newspaper article from ABCNews suggests "Australia accused of putting drug company profits for coronavirus vaccines ahead of lives in the developing world" (Lipson, 2021). Evaluate the economic basis for this claim.
Link: https://www.abc.net.au/news/2021-04-16/australia-accused-prioritising-pharma-profits-over-poor-covid/100073186
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