COVID-19 Vaccine – Research & development beyond Pfizer
This week we welcomed the news of the world’s first successful trial of a coronavirus vaccine.
As we await approval, our thoughts turn to the huge task of getting millions of doses to the UK population which poses an enormous supply chain challenge. To complicate things further, the new vaccine would need a deep–freeze delivery chain.
The vaccine requires storage at -70C, significantly lower than any other common vaccines. With no existing infrastructure in place, rigorous measures for temperature control will need to be introduced for central storage and distribution. The Government once again will need to collaborate with universities, research labs and British businesses for what Health Secretary, Matt Hancock referred to as a “mammoth logistical operation.”
This opens the opportunity for companies to innovate to provide solutions and equipment. From the injection moulding of millions of plastic vials and syringes, to the engineering of refrigeration and cold storage transportation, to the technology to manage huge amounts of data and ensure seamless distribution, research and development across the country will be required to deliver the vaccine successfully.
Whilst the research and development by Pfizer and BioNTech is receiving worldwide attention, we must also applaud the thousands of other businesses contributing to its successful development and roll-out through their own research and development activities. Without the architects and construction sector we wouldn’t have the world-class labs or cold storage units. Without the chemical manufacturers we wouldn’t have the reagents for diagnostics and vaccine development. Without the software developers we wouldn’t have the platforms to monitor distribution and logistics.
Research and development is often overlooked in some sectors and many business owners are not aware their activity is eligible under the Research & Development (R&D) Tax Relief Scheme. Companies seeking advancements in a scientific or technical industry are likely to qualify for tax relief of up to 33% of their eligible costs.
At Beavis Morgan we support businesses across a huge range of industries with R&D Tax Relief claims from pharma to engineering to tech, many of which have contributed to the fight against COVID-19.
For further information about R&D Tax Relief and how we can assist your business, please contact Rebecca Heap via email at firstname.lastname@example.org for a no obligation discussion.