Pfizer-BioNtech, Moderna, AstraZeneca, Sinopharm, Gamaleïa… One by one, many pharmaceutical companies have announced that they have developed a vaccine against Covid-19. But among them… no French. Neither the Sanofi laboratory nor the Institut Pasteur have, for example, seen their research succeeded for the moment. The reasons for this failure are multiple. But for some economists, this reflects the delay taken by French medical research for more than a decade. While the pharmaceutical sector has been disrupted by the arrival of biotechnologies, France has failed to adapt and has suffered from declining funding, unlike several of its European neighbors.