Antibiotic treatment in COVID-19 patients is driving antimicrobial resistance (AMR) as secondary infections emerge. While large pharmaceutical companies have retreated from antibiotic development, smaller enterprises have compensated with innovative therapies to ensure an arsenal of anti-infective drugs. But numerous recent bankruptcies show that times are tough even for companies with newly approved antibiotics. Several large pharmaceutical companies recently joined in launching the billion-dollar Antimicrobial Action Fund for antibiotic development. This welcome investment buys time to right the market, but it is clear that a pull incentive is needed to drive the market. What are the lessons to learn from the UK NHS NICE subscription-model pilot? Is a pull incentive enough to attract private investment to antimicrobials? How can we develop a sustainable market for antibiotics so that drug-resistant infections do not become the next pandemic?