However I'm certain that the category "bankrupt pharma company" is littered with examples.
a) researching Covid-19 vaccines?
b) will they actually get to produce millions and millions of doses?
Almost every case I know of, it's a huge company or even a state owned one.
Who are we actually arguing for/against? The hypothetical "small pharma"?
Keep in mind that just like for banking, due to the amount of (necessary) regulation, there aren't many small pharma companies out there.
However I'm certain that the category "bankrupt pharma company" is littered with examples.