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Big Pharma Rakes in Billions from U.S. Taxpayers for Coronavirus Vaccine

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August 3, 2020

Big pharmaceutical corporations are raking in billions from American taxpayers through the United States government deals that are funding research for a vaccine to the Chinese coronavirus.

In May, President Donald Trump’s administration created Operation Warp Speed (OWS) to partner with pharmaceutical corporations in researching, developing, and administering a vaccine for the coronavirus at a record pace.

As a result, the administration is cutting deals for pharmaceutical corporations that deliver them billions in taxpayer dollars for vaccine research and development.

Most recently, the France-based pharmaceutical corporation Sanofi and GSK scored a $2.1 billion federal contract for 100 million doses of a vaccine with potentially the option to buy another 500 million doses. Sanofi profits total nearly $38 billion.

Similarly, Pfizer and BioNTech won a $1.95 billion federal contract for an initial 100 million doses of their yet-to-be-developed vaccine for coronavirus. Pfizer is the largest multinational pharmaceutical corporation in the world with profits over $53 billion.

Other pharmaceutical corporations who have been awarded federal funds include:

While AstraZeneca and Johnson & Johnson executives have pledged to Congress not to profit off the vaccines, Pfizer CEO Albert Bourla told Barron’s last week that it is “radical” to suggest that billion-dollar pharmaceutical corporations forgo profits during the coronavirus crisis.

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This article was posted: Monday, August 3, 2020 at 4:16 am

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