Closing Thought–29Mar21

The pandemic hit and the drug companies went into high gear (with taxpayer money) to find a vaccine to protect the population from this killer…..

Behind the scenes the greed is starting to takeover….

Eager to capitalize on the lasting presence of the coronavirus, executives at Johnson & Johnson, Moderna, and Pfizer—the pharmaceutical corporations that supplied the Covid-19 vaccines approved for use in the U.S.—are quietly planning to hike prices on doses “in the near future,” once they decide the pandemic is over, The Intercept’s Lee Fang reported Thursday.

Although the rapid development of coronavirus vaccines—made possible by large infusions of public resources—has given Big Pharma companies “a boost in goodwill… the public is still sensitive to drug pricing and the reputational risk has, so far, curtailed their ability to reap large financial rewards,” Fang noted. “But that environment, they hope, will change once the pandemic ends: a date that drugmakers themselves reserve the right to declare.”

Many epidemiologists expect the coronavirus to become endemic, “and as Covid-19 mutations continue to spread and booster shots may be required on a regular basis, leaders from the three companies are enthusiastic about cashing in,” wrote Fang.

“As this shifts from pandemic to endemic, we think there’s an opportunity here for us,” Pfizer’s Chief Financial Officer Frank D’Amelio said during a recent healthcare conference sponsored by Barclays Bank. The potential need for booster shots, D’Amelio added, provides “a significant opportunity for our vaccine from a demand perspective, from a pricing perspective, given the clinical profile of our vaccine.”

https://www.commondreams.org/news/2021/03/19/big-pharma-quietly-planning-price-hike-covid-vaccines-near-future-report

This is unacceptable!

If taxpayer money was used to develop the vaccine there should be no profit….or if there is profit then the cash should go where the seed money originated…..the US treasury.

Time for the American people to see the fruits of their taxes.

I Read, I Write, You Know

“lego ergo scribo”

2 thoughts on “Closing Thought–29Mar21

  1. Drug companies and profits go hand in hand. Might be a better plan to nationalise the drug giants, and fund the research directly. (I know, it’s just a dream)
    Best wishes, Pete.

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