vaccines

For every new billionaire created during the pandemic — one every 30 hours — nearly a million people could be pushed into extreme poverty in 2022 at nearly the same rate, reveals a new Oxfam brief today. “Profiting from Pain” is published as the World Economic Forum — the exclusive get-together of the global elite in Davos — takes place for the first time face-to-face since COVID-19, a period during which billionaires have enjoyed a huge boost to their fortunes. 

In separate virtual addresses to the shareholders of Moderna, Pfizer, and Johnson & Johnson (JNJ), Oxfam called on the pharmaceutical corporations to improve COVID-19 vaccine equity and access so that everyone, everywhere has access to these life-saving shots. 

Over a quarter of a billion more people could crash into extreme levels of poverty in 2022 because of COVID-19, rising global inequality and the shock of food price rises supercharged by the war in Ukraine, reveals a new Oxfam brief today. 

In response to reports of a potential compromise agreed by the EU, South Africa, India and the US for a waiver of intellectual property rules for COVID vaccines, Max Lawson, Head of Inequality Policy for Oxfam and co-chair of the People's Vaccine Alliance, said: 
 

The COVID-19 death toll has been four times higher in lower-income countries than in rich ones, according to a new report published today by Oxfam on behalf of the People’s Vaccine Alliance as the world marks two years since the World Health Organization declared the pandemic. 

At the AU-EU Summit, African Union and European Union leaders will meet to discuss cooperation between the AU and the EU “based on shared interests and values.” The summit will take place during the French EU Presidency and the French government has indicated a high level of ambition in terms of outcomes.  

“People have become complacent about COVID-19. Our global (health) funds are fast running out of money. Vaccine inequity is getting worse,” said former UK prime minister Gordon Brown today. 

In response to the publication of Pfizer’s financial results on COVID-19 vaccine sales for last year and projections for its COVID-19 vaccine and antiviral pill this year, Oxfam’s Robbie Silverman said: “Pfizer’s results today are clear evidence of how the company has used its monopoly to enrich its shareholders at the expense of almost half the world’s population who still have no access to lifesaving vaccines."
 

The world’s ten richest men more than doubled their fortunes from $700 billion to $1.5 trillion —at a rate of $15,000 per second or $1.3 billion a day— during the first two years of a pandemic that has seen the incomes of 99 percent of humanity fall and over 160 million more people forced into poverty.