I'm of two minds regarding this article - yes, it is disgusting how only a few big name biotechs were invited to the party, and their executives certainly benefitted from that exclusivity and gov't largesse. But OTOH, they did bring vaccines for the virus to market in less than 11 months, and the damage that effort saved the US and the world economies has and will continue to far surpass the money the US and other countries spent on those big names and their work. And that excludes a more important variable - the lives they have saved to date.
As to Generex not getting any funding, I've posted this before based on personal experience; when there is a question about using a small, unknown company vs a large, well capitalized and proven company, the gov't almost always goes with the safe choice (ie, the big company). No bureaucrat wants to take a risk with an unknown, because they could end up at a Senate hearing having to explain what happened if that decision turns out badly. If you go with the big guy, at least you can say "we went with them because of their past resume" as defense for your choice. I'll also mention that from personal experience, the little guy has been called in later to clean up what the big guy said they could do but in fact, could not do. Not saying this will happen with GNBT, but it is a possibility that I've experienced with my company.
Finally, while it seems unfair that GNBT wasn't given an opportunity, but obviously has some of the real "goods" when it comes to a vaccine, think about how many "scam" companies would have come out of the woods if the gov't opened this up to all petitioners? The US was taught a $500 million lesson with Solyndra not more than 10 years ago; does anyone here think this would have been any different? Yes, GNBT has a solution that should of been given a chance, but Vacs-R-Us might not have had anything in mind except to pad a few executive paychecks and expense accounts.
This is also one of the reasons I'm so positive on GNBT - if this were a scam, after the public trough was emptied by the likes of J&J, Mod, Pfzr and A-Z, vaccination talk would have quietly gone away and the company would have refocused on AE37/Keytruda and the AZ clinic and diabetes/wound care work. But instead, they went all in on continuing the vacs work, and are now on the cusp of filing an IND. It's real folks, regardless of what the detractors try to intimate. Using a poker term, it might not be the mortal nuts, but it sure looks like Joe and Co believe they have the winning hand and are taking it to the showdown. We'll see if someone can lay down a straight flush that will trump our four of a kind.
As to Generex not getting any funding, I've posted this before based on personal experience; when there is a question about using a small, unknown company vs a large, well capitalized and proven company, the gov't almost always goes with the safe choice (ie, the big company). No bureaucrat wants to take a risk with an unknown, because they could end up at a Senate hearing having to explain what happened if that decision turns out badly. If you go with the big guy, at least you can say "we went with them because of their past resume" as defense for your choice. I'll also mention that from personal experience, the little guy has been called in later to clean up what the big guy said they could do but in fact, could not do. Not saying this will happen with GNBT, but it is a possibility that I've experienced with my company.
Finally, while it seems unfair that GNBT wasn't given an opportunity, but obviously has some of the real "goods" when it comes to a vaccine, think about how many "scam" companies would have come out of the woods if the gov't opened this up to all petitioners? The US was taught a $500 million lesson with Solyndra not more than 10 years ago; does anyone here think this would have been any different? Yes, GNBT has a solution that should of been given a chance, but Vacs-R-Us might not have had anything in mind except to pad a few executive paychecks and expense accounts.
This is also one of the reasons I'm so positive on GNBT - if this were a scam, after the public trough was emptied by the likes of J&J, Mod, Pfzr and A-Z, vaccination talk would have quietly gone away and the company would have refocused on AE37/Keytruda and the AZ clinic and diabetes/wound care work. But instead, they went all in on continuing the vacs work, and are now on the cusp of filing an IND. It's real folks, regardless of what the detractors try to intimate. Using a poker term, it might not be the mortal nuts, but it sure looks like Joe and Co believe they have the winning hand and are taking it to the showdown. We'll see if someone can lay down a straight flush that will trump our four of a kind.
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