Monday, May 10, 2021
Home World Pfizer Reaps Hundreds of Millions in Profits From Covid Vaccine

Pfizer Reaps Hundreds of Millions in Profits From Covid Vaccine

The pricing for the United States was in line with the price of seasonal flu vaccines and far inexpensive than vaccines for situations like shingles, which may run into a number of hundred {dollars}.

“That price point does not seem offensive, even if you don’t spend a lot of time thinking about prescription drugs,” stated Stacie Dusetzina, an affiliate professor of well being coverage at Vanderbilt University Medical Center. “Just thinking about any prescription you’d fill, you’d be hard-pressed to find pretty much anything for $20.”

But the truth that Pfizer seems to have earned one thing like $900 million in pretax earnings from its vaccine — coupled with its comparatively small gross sales to poor nations — means that earnings have trumped different issues. That might undercut the corporate’s embrace of loftier ideas.

“At Pfizer, we believe that every person deserves to be seen, heard and cared for,” the chief govt, Albert Bourla, stated in January as the corporate introduced it will be a part of Covax. “We share the mission of Covax and are proud to work together so that developing countries have the same access as the rest of the world.”

But the corporate appears to have prioritized higher-priced gross sales.

“Despite all the talk about Covax, they have been far more interested in bilateral deals, because that’s where they make their money,” stated Richard Kozul-Wright, director of the division on globalization and growth methods on the United Nations Conference on Trade and Development in Geneva. “It’s one of the great public relations triumphs of recent corporate history.”

Multiple elements clarify the inequitable nature of Pfizer’s vaccine distribution.

The shot, which have to be saved and transported at very low temperatures, is much less sensible for hard-to-reach elements of the world than different photographs, like these from AstraZeneca and Johnson & Johnson, that may merely be refrigerated. Some poor nations have been initially not hit arduous by the virus, and so their governments had much less urgency to put orders for the Pfizer vaccine, to the extent that they might afford to pay for the photographs.

“Not everyone was interested in the vaccine or prepared to take steps; thus, conversations continue, including working with Covax beyond their initial order of 40 million doses,” stated Ms. Castillo, the Pfizer spokeswoman.

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Monday, May 10, 2021
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Updated on May 10, 2021 10:32 pm

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