Luxury group LVMH is furthering its investment in Covid-19 research by providing an exceptional contribution of five million euros to the Institut Pasteur de Lille. The research center has been actively working on developing a treatment for the SARS-CoV-2 virus, and they have recently made progress by identifying a molecule that shows significant effectiveness against the virus. Successful in vitro tests have paved the way for clinical trials, which will be funded by LVMH’s generous contribution.
The decision to support the research was made by LVMH President Bernard Arnault, who hails from Lille, the home region of the Institut Pasteur. The luxury group has been proactive in its approach, immediately reaching out to the research center as soon as the initial results were announced. Arnault expressed his unwavering support for the scientists, recognizing the importance of their discovery in combating the global pandemic. He emphasized the need for the research to continue and pledged his support for the crucial phase of clinical trials. Arnault also expressed his pride in the researchers from his home region and expressed hope for positive results in the near future.
This initiative comes at a challenging time for LVMH, as their revenue plummeted by 28% in the first half of 2020 due to the impact of the pandemic. However, the luxury group has been actively involved in the fight against Covid-19 since March. They have repurposed their factories to produce hand sanitizers, contributing to the shortage of essential supplies. Additionally, LVMH placed an order for 10 million protective masks to support healthcare workers on the front lines.
This latest investment in Covid-19 research showcases LVMH’s commitment to making a difference during these unprecedented times. By leveraging their resources and expertise, they aim to contribute to finding effective treatments and solutions for the ongoing global health crisis.
Useful links:
1. Institut Pasteur Official Website
2. LVMH Official Website
