October 19, 2021
MarketPlace recently featured insight from Rena Conti, Associate Professor in the Department of Markets, Public Policy and Law, on the topic of pharmaceutical ingredient stockpiling. The article discusses the beginnings of a reserve of drug components being developed by an institute of Virginia Commonwealth University in rural Petersburg, Virginia – one of the four contractors receiving federal funding to make pharmaceutical manufacturing more efficient.
Development of the stockpile is set to be complete by late next year or early 2023. Rena explains that the project, being federally funded, is also subject to federal oversight. She stated, “It’s not like there was a blank check written, it comes with responsibilities and benchmarks.” Frank Gupton, a chemist behind the project, explained that it’s possible the drug prices can be kept down through efficiency and automation, avoiding overcharging due to competition with India and China.