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    Pfizer Brags of “Multi-Billion Dollar” COVID Vaccine Franchise as it Marks Up Price by 10,000%

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    In fact, based on a recent talk by industry leaders, big pharma is assessing that although each individual COVID-19 vaccine shot cost only $1.18 to make —the public will have to pay a lot more than that to get the shot. This statement was made by a big pharma leader who recently celebrated the company’s windfall to investors.

    Leaders in the industry are also preparing for a new price structure that will require the public to pay a 10,000 percent markup to buy their goods. That much money was made.

    David Denton, the chief financial officer of Pfizer, defined the Covid pandemic as a “multi-billion dollar franchise” and stated last week that his company’s vaccine and antiviral will still be “important for many years to come” in order to maintain profit.

    On the call, the CFO stated that he anticipates the Covid virus to be “somewhat like the flu… but more deadly,” indicating that therapeutics will still play a significant role in controlling the virus. He also hinted that the company would be prepared to take advantage of the profits as soon as possible for investor gain.

    Pfizer announced last month that it will triple the cost of its shot to close to $130 for every dose next year — a far cry from of the roughly $19 to $30 per dose which the state pays. As per findings, Pfizer has earned about $80 billion in annual revenue derived from sales of Covid vaccines and the antiviral drug Paxlovid.

    “Analysts speculate that the move was made so Pfizer could still meet its target of $32 billion of projected vaccine revenue this year. Critics say that the decision shows the firm’s greed. Peter Maybarduk, director of access to medicines at Public Citizen, told DailyMail.com that the firm was already in a good of financial position that they could take some loss,” according to The Daily Mail, adding:

    Maybarduk said that the company has already generated a ‘obscene’ sum of money and will be OK even if they fall short of revenue expectations that were probably overstated in the first place.

    Pfizer was the first business to obtain a Covid-19 vaccine approval for the US market, making it an early winner during the epidemic. Vaccine requirements for military personnel and healthcare workers later increased vaccine sales.

    The outlet went on to provide more information:

    With the vaccine and its antiviral Paxlovid, the business expects to generate $102 billion in total revenue this year, more than doubling its earnings from 2019 and 2020 ($40.9 billion and $41.7 billion, respectively).

    More on this story via The Republic Brief:

    Julia Kosgei, policy advisor to the The People’s Vaccine Alliance said: ‘Experts have estimated that Pfizer’s vaccine costs just $1.18 per dose to make… Charging $130 per dose would represent a markup of more than ten thousand per cent. This is daylight robbery.’

    The group’s website describes their work as ‘vaccine apartheid’:

    The People’s Vaccine Alliance is a coalition of over 100 organisations and networks, supported by Nobel Laureates, health experts, economists, Heads of States, faith leaders and activists, working together for a People’s Vaccine, available free of charge to everyone, everywhere. The Alliance grew organically out of the open letter calling for a People’s Vaccine, organised in May 2020. We work together to end vaccine apartheid. CONTINUE READING…

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