Pfizer Takes Heat for Alleged Pandemic Profiteering

Several patient advocacy groups have accused Pfizer of profiteering off the pandemic. The company, which made ~$26 billion at the beginning of the year, has avoided sharing technology and manufacturing rights for its COVID vaccines with less economically-advantaged countries that experienced vaccine shortages throughout the pandemic, unlike its competitor Moderna. Pfizer argues that it has considered economic concerns in its pricing, like other manufacturers.

According to Julia Kollewe,” Pfizer said it also offered tiered pricing, with the wealthier nations paying in the range of about the cost of a takeaway meal, while the upper-middle-income countries were offered doses at roughly half that price and the low- and lower-middle-income countries were offered doses at a not-for-profit price.”

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(Source: The Guardian, May 3^rd, 2022)