Big Pharma and Corona vaccinations: Putting big pharma in charge of global vaccine rollout was a big mistake : by Nick Dearden

Pfizer has had an exceptionally good pandemic. Today it announced that its Covid-19 vaccine brought in $37bn billion last year, making it easily the most lucrative medicine in any given year in history.

That isn’t all. For a company that was until recently the least trusted company in the least trusted industrial sector in the United States, Covid-19 has been a PR coup. Pfizer has become a household name over the last 12 months. The company was toasted on nights out in Tel Aviv, and there are cocktails named after its vaccine in bars across the world. The US president referred to Pfizer’s chief executive, Albert Bourla, as a “good friend”, and the great man parked his jet next to Boris Johnson’s at last year’s G7 summit in Cornwal

The global vaccine rollout has created levels of inequality so great that many call it a ‘vaccine apartheid’. Pharmaceutical corporations like Pfizer have led this rollout, setting the terms by which they sell vaccines and deciding who to prioritise. Ultimately, their approach affects who does, and does not, receive vaccines. Right from the start, Pfizer was clear that it wanted to make a lot of money from Covid. The company claims that its vaccine costs just under £5 per dose to produce. Others have suggested it could be much cheaper. Either way, the company is selling doses at a huge profit – the UK government paid £18 a shot for its first order, £22 for its most recent purchase. That means the NHS has paid a mark-up of at least £2bn – six times the cost of the pay rise the government agreed to give nurses last year.

It has been claimed that the company initially tried to pitch their medicine to the US government for an eye-popping $100 a dose. Tom Frieden, a former director of the US Centers for Disease Control and Prevention, accused the firm of “war profiteering”.

Pfizer has sold the vast majority of its doses to the richest countries in the world – a strategy sure to keep its profits high. If you look at its global distribution, Pfizer sells a tiny proportion of its vaccines to low-income countries. By last October, Pfizer had sold a measly 1.3% of its supply to Covax, the international body set up to try to ensure fairer access to vaccines.

Pfizer wasn’t selling many doses to poorer countries, but neither would it allow them to produce the life-saving vaccine on their own, through licensing or patent sharing..

Read more at: Putting big pharma in charge of global vaccine rollout was a big mistake | Nick Dearden | The Guardian