Pfizer, Biontech and Moderna make $65,000 per minute on vaccines

A recent report by the People’s Vaccine Alliance (PVA), an organization campaigning for wider access to vaccines around the world recently released a report that has claimed that Pfizer, BioNTech and Moderna, companies that manufacture COVID-19 vaccines make a profit of about $65000 per minute on their vaccines. The report, it said is based on financial reports made available by the organizations themselves. The profit-making motivations behind the production of successful vaccines have led these companies to prioritize selling them to richer countries over the poorer ones.

The humanitarian organization that is concerned with the sparse access to vaccines in poorer countries especially in Africa is concerned that the vaccine makers are more concerned with their drive to make profit despite having access to $8 billion of public funding are still prioritizing their bottom lines over tequila access to vaccines all over the world.

Maaza Seyoum of African Alliance and People’s Vaccine Alliance Africa commented saying, “It is obscene that just a few companies are making millions of dollars in profit every single hour, while just two percent of people in low-income countries have been fully vaccinated against coronavirus.”

“Pfizer, BioNTech and Moderna have used their monopolies to prioritize the most profitable contracts with the richest governments, leaving low-income countries out in the cold,” she added.

In contrast to the above stated companies, the organization has commended the efforts of Johnson & Johnson and Astrazaneca for making their versions of the vaccines available to the public simply on a humanitarian basis.

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