A 2021 study released by AARP found that “retail prices for widely used brand name prescription drugs increased substantially faster than general inflation in every year from 2006 to 2020.” For people who are already vulnerable, the cost of drugs ends up being a major obstacle to care that often leads them to abandon treatment midway or avoid seeking it altogether. That’s a wrong that EQRx (Cambridge, MA) is determined to right.
EQRx is a new type of pharmaceutical company committed to developing and delivering innovative medicines to patients at radically lower prices. Launched in January 2020, EQRx is purpose-built, at scale, with a growing catalog of medicines in development in high-cost drug categories and emerging partnerships with leading payers and providers.
As CEO Melanie Nallicheri wrote in a recent article in Medium, “the nation’s healthcare system will become more equitable only when it’s also more affordable. Regulation might play a role in the solution, but it’s a blunt instrument—not a surgical tool. We think the real fix will come from a good old-fashioned private-sector value: competition.”
It is evident that EQRx’s purpose-based commitment is not simply a performative branding exercise. The results also show up in its 2021 Comparably rankings:
- A+ Culture Score
- Top 5% CEO Score
- Best Company for Diversity, for Women, and for Culture
- Best Company for Work-Life Balance, Compensation, Career Growth, and Happiness
As one employee shared, “I continue to have positive culture shock working here, and I’m so grateful to be part of a superb team of people working on an important mission!”
Kudos to EQRx for creating a platform for cultivating innovation with a people-centric approach. You can learn more about EQRx’s story here.