Large numbers of people in low-income countries face COVID unprotected, and millions of people would still be alive today if they had had access to a vaccine. Big pharma corporations have been given free rein to prioritize profits ahead of vaccine equality as the richest ten men doubled their fortunes during the pandemic. A new billionaire is being created every 26 hours profiting from vaccines, treatments, tests, etc. PPE. When is enough enough?
- The S&P 500 healthcare sector has been on a tear in recent months, on track for its best quarter in five years and surging to an all-time high on Friday.
- A forensic accounting of available financial data of the pharmaceutical giants Johnson & Johnson, Pfizer, Merck Sharp & Dohme, and Abbott—shows that from 2013 to 2015, these four multinational drug makers collectively avoided paying about $3.7 billion in taxes.
- Publishing in JAMA Internal Medicine the median estimated cost of the full range of studies: $19 million to get new drug approval.
- Pharma’s primary customer continues to be Wall Street.