QUICK READ: Pfizer has already announced a price increase to the EU for their Covid Vaccine. With a CEO who earns more than $20 million annually and the potential for billions in profit Pfizer is reminding us that Wall Street is once again their primary customer.
QUICK READ: The compensation for pharma CEOs is starting to be reported and it’s off the charts. Bob Bradway of Amgen bagged a $20.1 million compensation package in 2020, a slight increase from his $19.6 million total the previous year. Pfizer CEO Bourla’s Pay Climbed 17% to $21 Million in 2020 and Gilead Sciences CEO Daniel O’Day earned a $19 million take home. This has to end.
SUMMARY: Johnson & Johnson and AstraZeneca publicly committed to not profiting off their products during the pandemic; Pfizer and Moderna made no such pledge and are already planning ways to make more money from their Covid vaccines.
SUMMARY: Pharma companies, like J&J, have received criticism for engaging in illegal activities, such as providing kickbacks and bribes, knowingly shipping adulterated or contaminated drugs to pharmacies, and marketing drugs for unapproved uses. Johnson & Johnson has paid $2.7 billion in penalties. Can a COVID-19 vaccine approval suddenly erase that?
SUMMARY: One of the biggest complaints people have about their health is the lack of sleep caused by many factors, from diet and weight to chronic stress. DTC for a product that can keep people awake for nine hours is a message for potential abuse. Did I mention that they are using a flying pig in their DTC?
THOUGHT: The reports of “pharma goodwill” were premature. At least three major pharmaceutical companies are ringing in the new year by raising drug prices on a range of products, according to Reuters, in the midst of a pandemic that has taken a serious toll on healthcare systems and limited regular interactions with patients. Business as usual.
As development towards a COVID-19 vaccine continue so do the number of people who have said they won’t get vaccinated. The only way to get people on board with a vaccination is complete transparency about the product yet both J&J and Pfizer remain silent.
WHAT NOW: The idea that most pharma companies are here to serve patients is a canard. Pharma CEO’s serve themselves with big salaries tied to drug prices and keeping drugs from coming off patent.