Pfizer, BioNTech and Moderna making $1,000 profit every second while world’s poorest countries remain largely unvaccinated
16 November 2021
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New figures from the Peoples Vaccine Alliance reveal that the companies behind two of the most successful COVID vaccines – Pfizer, BioNTech and Moderna – are making combined profits of $65,000 every minute. The figures based on the latest company reports are released as CEOs from pharmaceutical industry meet for the annual STAT summit —the equivalent of a ‘Big Pharma Davos’— from 16-18 November.
In response to the announcement that the World Health Organisation (WHO) has granted emergency use license for the COVID-19 vaccine, Covaxin, developed by Bharat Biotech in India, People’s Vaccine Alliance spokesperson and Oxfam Health Policy Manager, Anna Marriott, said: "Another approved vaccine to fight COVID-19 is fantastic news. We strongly encourage Bharat Biotech to show pandemic leadership and do the right thing for humanity by agreeing to share the vaccine technology and rights with the WHO's COVID Technology Access Pool, so that more manufacturers around the world can produce them.