Pfizer, BioNTech & Moderna Make RM4,000 Profit Per Second While Poorer Nations Are Mostly Unvaccinated
According to NST, new figures from the People’s Vaccine Alliance (PVA) reveal that the companies behind two of the most successful Covid vaccines – Pfizer, BioNTech and Moderna – are making combined profits of US$65,000 (about RM271,213) every minute.
PVA said that the trio will make pre-tax profits of US$34 billion this year – which work out to over US$1,000 (around RM4,000) a second. Unfortunately, these companies have sold the majority of doses to rich countries, leaving low-income countries out in the cold.
Pfizer and BioNTech have delivered less than 1% of their total vaccine supplies to low-income countries, while Moderna has delivered just 0.2%. Meanwhile, 98% of people in low-income countries have not been fully vaccinated.
The figures based on the latest company reports are released as CEOs from the pharmaceutical industry meet for the annual STAT summit from 16 t0 18 November.
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