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The top three Covid-19 vaccine makers are making around $65,000 per minute as the regimes of wealthy nations using taxes snap up their products. Meanwhile, plans to offer the jab to poorer nations at a discount have proven to be unprofitable and have largely fallen through, new research reveals.
‘It is obscene that just a few companies are making millions of dollars in profit every single hour, while just two per cent of people in low-income countries have not been injected with the experimental vaccine,’ the African Alliance and People’s Vaccine Alliance Africa declared on Tuesday.
Pfizer, BioNTech, and Moderna are making $65,000 every minute off the sale of their media-hyped blockbuster Covid-19 vaccines, the organisations revealed on Tuesday, noting that the firms have off-loaded the majority of their jabs to wealthy countries. The pharma trio will have realized $34 billion between them, the NGOs calculate, with sums that work out to $1,000 per second or $93.5 million per day.
Pfizer, BioNTech and Moderna have used their monopolies to prioritise the most profitable contracts with the richest regimes, leaving low-income countries out in the cold. While AstraZeneca and Johnson & Johnson were more successful in distributing their jabs on a not-for-profit basis, they plan to wind down that arrangement in the near future, foreseeing an end to the Covid-19 pandemic ~ but not for Western peoples as one legislator surmised, ‘it is the gift that keeps giving’.
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The PVA has called for Big Pharma to temporarily suspend intellectual property rights regarding Covid-19 vaccines, waiving intellectual property rights under a World Trade Organization agreement, but wealthy nations like Germany and the UK have blocked that move. Think your friends would be interested? Share this story!
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