Corporate Corruption Media Articles
Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.
The popular, once bipartisan idea to hold down Medicare costs is now at the center of President Joe Biden’s domestic agenda. Legislation backed by the administration calls for Medicare to mirror other government agencies, such as the Department of Veterans Affairs, in being able to negotiate for cheaper medicine through the Part D program. The idea could potentially save the government nearly $500 billion over a decade. The drug pricing proposal could also translate to lower prescription costs across the board. The drug industry, according to its top lobbyist, Stephen Ubl, has made defeating the provision its top priority. Inside the Beltway, the opposition is coming from familiar faces. Many leading Democratic lawmakers and staff have been hired by the drug industry to convince their former colleagues to abandon the drug pricing proposal. Pfizer alone has assembled a lobbying team that includes Dean Aguillen, a former adviser to House Speaker Nancy Pelosi, D-Calif.; Remy Brim, a former health policy adviser to Sen. Elizabeth Warren, D-Mass.; and over half a dozen aides to senior Senate Democrats. Ann Jablon, former chief of staff to Rep. Richard Neal, D-Mass. ... currently represents several drug companies as a lobbyist, including Amgen Inc., Astellas Pharma, and Bayer. Pharmaceutical Research and Manufacturers of America, the trade group that represents the largest drug companies in the world, has also gone on a hiring spree of Democratic lobbyists.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and Big Pharma profiteering from reliable major media sources.
Synthetic chemicals called phthalates, found in hundreds of consumer products such as food storage containers, shampoo, makeup, perfume and children's toys, may contribute to some 91,000 to 107,000 premature deaths a year among people ages 55 to 64 in the United States, a new study found. People with the highest levels of phthalates had a greater risk of death from any cause, especially cardiovascular mortality, according to the study published Tuesday in the peer-reviewed journal Environmental Pollution. Phthalates are known to interfere with the body's mechanism for hormone production, known as the endocrine system, and they are "linked with developmental, reproductive, brain, immune, and other problems," according to the National Institute of Environmental Health Sciences. Even small hormonal disruptions can cause "significant developmental and biological effects," the NIEHS states. Prior research has connected phthalates with reproductive problems, such as genital malformations and undescended testes in baby boys and lower sperm counts and testosterone levels in adult males. Often called "everywhere chemicals" because they are so common, phthalates are added to consumer products such as PVC plumbing, vinyl flooring, rain- and stain-resistant products, medical tubing, garden hoses, and some children's toys. Other common exposures come from the use of phthalates in food packaging, detergents, clothing, furniture and automotive plastics.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health from reliable major media sources.
To ward off accusations that it helps terrorists spread propaganda, Facebook has for many years barred users from speaking freely about people and groups it says promote violence. The restrictions appear to trace back to 2012, when ... Facebook added to its Community Standards a ban on “organizations with a record of terrorist or violent criminal activity.” This modest rule has since ballooned into what’s known as the Dangerous Individuals and Organizations policy, a sweeping set of restrictions on what Facebook’s nearly 3 billion users can say about an enormous and ever-growing roster of entities deemed beyond the pale. But as with other attempts to limit personal freedoms in the name of counterterrorism, Facebook’s DIO policy has become an unaccountable system that disproportionately punishes certain communities, critics say. It is built atop a blacklist of over 4,000 people and groups, including politicians, writers, charities, hospitals, hundreds of music acts, and long-dead historical figures. A range of legal scholars and civil libertarians have called on the company to publish the list so that users know when they are in danger of having a post deleted or their account suspended for praising someone on it. The company has repeatedly refused to do so, claiming it would endanger employees and permit banned entities to circumvent the policy. The Intercept has reviewed a snapshot of the full DIO list and is today publishing a reproduction of the material in its entirety.
Note: Facebook was found to be the number one platform for political disinformation campaigns in 2019. For more along these lines, see concise summaries of deeply revealing news articles on media corruption from reliable sources.
A five-day course of molnupiravir, the new medicine being hailed as a “huge advance” in the treatment of Covid-19, costs $17.74 to produce, according to a report issued last week by drug pricing experts at the Harvard School of Public Health and King’s College Hospital in London. Merck is charging the U.S. government $712 for the same amount of medicine, or 40 times the price. Like the vast majority of medicines on the market, molnupiravir — which was originally investigated as a possible treatment for Venezuelan equine encephalitis — was developed using government funds. The Defense Threat Reduction Agency, a division of the Department of Defense, provided more than $10 million of funding in 2013 and 2015 to Emory University, as research done by the nonprofit Knowledge Ecology International has revealed. The National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health, also provided Emory with more than $19 million in additional grants. Yet only Merck and Ridgeback will reap the profits from the new antiviral, which ... could bring in as much as $7 billion by the end of this year. After the announcement of the encouraging clinical trial results on Friday, Merck’s stock price climbed. Good government advocates are pointing out that because federal agencies spent at least $29 million on the drug’s development, the government has the obligation to ensure that the medicine is affordable.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.
Twitter has been slammed for fact-checking the obituary of a Seattle mother that attributed her death to blood clots brought on by the COVID-19 vaccine after she was forced to get the shot due to “heavy-handed” state mandates. The online obituary for 37-year-old Jessica Berg Wilson, who died Sept. 7, was marked as “misleading” by the social media giant over the weekend. The fact-check warning was removed by Twitter on Monday morning following the backlash. The tribute ... said the mother of two died from “COVID-19 Vaccine-Induced Thrombotic Thrombocytopenia” — a rare blood disorder that can occur in some cases after the vaccine. Wilson had been “vehemently opposed” to getting the vaccine because she was in good health, but she eventually relented after Washington state made it mandatory for teachers and those wanting to volunteer in schools, her obituary said. “During the last weeks of her life, however, the world turned dark with heavy-handed vaccine mandates. Local and state governments were determined to strip away her right to consult her wisdom and enjoy her freedom.” The social media giant fact-checked the obituary after it was shared by Twitter user Kelly Bee alongside a tweet that read: “Jessica Berg Wilson, an ‘exceptionally healthy and vibrant 37-year-old young mother with no underlying health conditions,’ passed away from COVID Vaccine-Induced Thrombotic Thrombocytopenia. She did not want to get vaccinated.”
Note: Learn lots more about this tragedy in this article. For more along these lines, see concise summaries of deeply revealing news articles coronavirus vaccines and media manipulation from reliable major media sources.
Frances Haugen spent 15 years working for some of the largest social media companies in the world including Google, Pinterest, and until May, Facebook. Haugen quit Facebook on her own accord and left with thousands of pages of internal research and communications that she shared with the Securities and Exchange Commission. 60 Minutes obtained the documents from a Congressional source. On Sunday, in her first interview, Haugen told 60 Minutes correspondent Scott Pelley about what she called "systemic" problems with the platform's ranking algorithm that led to the amplification of "angry content" and divisiveness. Evidence of that, she said, is in the company's own internal research. Haugen said Facebook changed its algorithm in 2018 to promote "what it calls meaningful social interactions" through "engagement-based rankings." She explained that content that gets engaged with – such as reactions, comments, and shares – gets wider distribution. "Political parties have been quoted, in Facebook's own research, saying, we know you changed how you pick out the content that goes in the home feed," said Haugen. "And now if we don't publish angry, hateful, polarizing, divisive content, crickets." "We have no independent transparency mechanisms," Haugen [said]. "Facebook ... picks metrics that are in its own benefit. And the consequence is they can say we get 94% of hate speech and then their internal documents say we get 3% to 5% of hate speech. We can't govern that."
Note: For more along these lines, see concise summaries of deeply revealing news articles on media manipulation from reliable sources.
A massive trove of private financial records shared with The Washington Post exposes vast reaches of the secretive offshore system used to hide billions of dollars from tax authorities, creditors, criminal investigators and — in 14 cases involving current country leaders — citizens around the world. The revelations include more than $100 million spent by King Abdullah II of Jordan on luxury homes in Malibu, Calif., and other locations; millions of dollars in property and cash secretly owned by the leaders of the Czech Republic, Kenya, Ecuador and other countries; and a waterfront home in Monaco acquired by a Russian woman who gained considerable wealth after she reportedly had a child with Russian President Vladimir Putin. Other disclosures hit closer to home for U.S. officials. The files provide substantial new evidence, for example, that South Dakota now rivals notoriously opaque jurisdictions in Europe and the Caribbean in financial secrecy. Tens of millions of dollars from outside the United States are now sheltered by trust companies in Sioux Falls, some of it tied to people and companies accused of human rights abuses and other wrongdoing. The trove, dubbed the Pandora Papers, exceeds the dimensions of the leak that was at the center of the Panama Papers investigation five years ago. That data was drawn from a single law firm, but the new material encompasses records from 14 separate financial-services entities.
Note: Some have suggested that the CIA was responsible for the earlier Panama Papers leak. For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption from reliable major media sources.
The secret wealth and dealings of world leaders, politicians and billionaires has been exposed in one of the biggest leaks of financial documents. Some 35 current and former leaders and more than 300 public officials are featured in the files from offshore companies, dubbed the Pandora Papers. They reveal the King of Jordan secretly amassed £70m of UK and US property. They also show how ex-UK PM Tony Blair and his wife saved £312,000 in stamp duty when they bought a London office. The couple bought an offshore firm that owned the building. The leak also links Russian President Vladimir Putin to secret assets in Monaco, and shows the Czech Prime Minister Andrej Babis - facing an election later this week - failed to declare an offshore investment company used to purchase two villas for £12m in the south of France. It is the latest in a string of leaks over the past seven years, following the FinCen Files, the Paradise Papers, the Panama Papers and LuxLeaks. The examination of the files is the largest organised by the International Consortium of Investigative Journalists (ICIJ), with more than 650 reporters taking part. Some figures are facing allegations of corruption, money laundering and global tax avoidance. But one of the biggest revelations is how prominent and wealthy people have been legally setting up companies to secretly buy property in the UK. The documents reveal the owners of some of the 95,000 offshore firms behind the purchases.
Note: Read about the Panama Papers leak that previously shed light on the tax havens of the elite. For more along these lines, see concise summaries of deeply revealing news articles on financial corruption and income inequality from reliable major media sources.
YouTube is taking down several video channels associated with high-profile anti-vaccine activists including Joseph Mercola and Robert F. Kennedy Jr., who experts say are partially responsible for helping seed the skepticism that’s contributed to slowing vaccination rates across the country. As part of a new set of policies aimed at cutting down on anti-vaccine content on the Google-owned site, YouTube will ban any videos that claim that commonly used vaccines approved by health authorities are ineffective or dangerous. Mercola, an alternative medicine entrepreneur, and Kennedy, a lawyer and the son of Sen. Robert F. Kennedy who has been a face of the anti-vaccine movement for years, have both said in the past that they are not automatically against all vaccines, but believe information about the risks of vaccines is being suppressed. Facebook banned misinformation on all vaccines seven months ago, though the pages of both Mercola and Kennedy remain up on the social media site. Their Twitter accounts are active, too. In an email, Mercola said he was being censored. Kennedy also said he was being censored. “There is no instance in history when censorship and secrecy has advanced either democracy or public health,” he said in an email. Social media companies have hired thousands of moderators and used high-tech image- and text-recognition algorithms to try to police misinformation. YouTube has removed over 133,000 videos for broadcasting coronavirus misinformation.
Note: Listen to first hand tragic stories of those who died or were seriously injured by COVID injections. Read one woman’s harrowing story of suffering severe side effects from the Pfizer injection only to have her story suppressed even though she supports vaccines in general. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and media corruption from reliable sources.
Facebook knew that teen girls on Instagram reported in large numbers that the app was hurting their body image and mental health. It knew that its content moderation systems suffered from an indefensible double standard in which celebrities were treated far differently than the average user. It knew that a 2018 change to its news feed software, intended to promote “meaningful interactions,” ended up promoting outrageous and divisive political content. Facebook knew all of those things because they were findings from its own internal research teams. But it didn’t tell anyone. In some cases, its executives even made public statements at odds with the findings. The world’s largest social network employs teams of people to study its own ugly underbelly, only to ignore, downplay and suppress the results of their research when it proves awkward or troubling. A pattern has emerged in which findings that implicate core Facebook features or systems, or which would require costly or politically dicey interventions, are reportedly brushed aside by top executives, and come out only when leaked to the media by frustrated employees or former employees. For instance, the New York Times reported in 2018 that Facebook’s security team had uncovered evidence of Russian interference ahead of the 2016 U.S. election, but that Chief Operating Officer Sheryl Sandberg and Vice President of Global Public Policy Joel Kaplan had opted to keep it secret for fear of the political fallout.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
British people are [asking]: What is the deal with all of these medicine ads in the U.S.? England doesn't allow commercials for prescription drugs. While there are ads for over-the-counter drugs in most of the world, the U.S. and New Zealand are the only two countries that allow drug companies to advertise prescription drugs directly to consumers. Commercials for prescription drugs do not exist in Europe or South America or Asia or Africa or Mexico or Australia, just in the U.S. and New Zealand, which is a much smaller market. It wasn't too long ago that TV in the U.S. was like the rest of the world, completely free of prescription drug ads. The '60s, the '70s, most of the '80s, there are no ads like this. By the '80s, though, ... drug companies started saying, we don't want to advertise our drugs just to doctors and pharmacists anymore. We want to market our drugs directly to consumers. The FDA was worried about how commercials would impact demand for drugs - misuse, overuse, all kinds of things. But there were compelling reasons to go directly to consumers. So in 1981, the first direct-to-consumer ad runs in print in Reader's Digest. The FDA [decided television] commercials need to say, out loud, the major risks of a drug. You just had to include the major risks of a drug, along with places where consumers could get more information about the drug, like a phone number or a website or a recommendation just to talk to your doctor. And this is what really opens the TV ad floodgates.
Note: The pharmaceutical industry provides 75% of television advertising revenue in the US. So how likely are TV stations to carry stories that reveal problems with drugs or corruption in the industry? For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.
Ask questions or post content about COVID-19 that runs counter to the Biden administration's narrative and find yourself censored on social media. That's precisely what data analyst and digital strategist Justin Hart says happened to him. And so last week the Liberty Justice Center, a public-interest law firm, filed a suit on his behalf in California against Facebook, Twitter, President Joe Biden and United States Surgeon General Vivek Murthy for violating his First Amendment right to free speech. Hart had his social media most recently locked for merely posting an infographic that illustrated the lack of scientific research behind forcing children to wear masks to prevent the spread of COVID. In fact ... study after study repeatedly shows that children are safer than vaccinated adults and that the masks people actually wear don't do much good. The lawsuit contends that the federal government is "colluding with social media companies to monitor, flag, suspend and delete social media posts it deems 'misinformation.'" It can point to White House Press Secretary Jen Psaki's July remarks that senior White House staff are "in regular touch" with Big Tech platforms regarding posts about COVID. She also said the surgeon general's office is "flagging problematic posts for Facebook that spread." "Why do we think it's acceptable for the government to direct social media companies to censor people on critical issues such as COVID?" Hart asks. The Post has been targeted repeatedly by social media for solid, factual reporting.
Note: Read about another lawsuit alleging collusion between government and big tech companies to censor dissenting views on pandemic policies. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and media manipulation from reliable sources.
Just two days after the U.S. ended its 20-year war in Afghanistan, more than a dozen Democrats with strong ties to the military establishment defied President Joe Biden and voted to add nearly $24 billion to the defense budget for fiscal year 2022. On Wednesday, 14 Democrats joined 28 Republicans on the House Armed Services Committee to adopt an amendment from Rep. Mike Rogers, R-Ala., to the fiscal year 2022 defense authorization bill that would boost Biden’s $715 billion spending proposal to $738.9 billion. The move follows the Senate Armed Services Committee’s vote to similarly raise the top line to more than $740 billion in its July markup of the bill. Many of the Democrats who voted for the $24 billion increase have close ties to the defense establishment. Their districts are home to job-promoting manufacturing sites and military bases. Many of the Democrats have also received generous campaign donations from contractors. In fact, Federal Election Commission data shows that in the first six months of this year, the 14 Democrats collectively received at least $135,000 from PACs representing the country’s top 10 defense vendors: Lockheed Martin, Raytheon, Boeing, Northrop Grumman, General Dynamics, L3Harris, Huntington Ingalls Industries, Leidos, Honeywell, and Booz Allen Hamilton.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the military from reliable major media sources.
Members of the Sackler family who are at the center of the nation's deadly opioid crisis have won sweeping immunity from opioid lawsuits linked to their privately owned company Purdue Pharma and its OxyContin medication. Federal Judge Robert Drain approved a bankruptcy settlement on Wednesday that grants the Sacklers "global peace" from any liability for the opioid epidemic. "This is a bitter result," Drain said. "I believe that at least some of the Sackler parties have liability for those [opioid OxyContin] claims. ... I would have expected a higher settlement." The complex bankruptcy plan ... grants "releases" from liability for harm caused by OxyContin and other opioids to the Sacklers, hundreds of their associates, as well as their remaining empire of companies and trusts. In return, they have agreed to pay roughly $4.3 billion, while also forfeiting ownership of Purdue Pharma. The Sacklers, who admit no wrongdoing and who by their own reckoning earned more than $10 billion from opioid sales, will remain one of the wealthiest families in the world. Critics of this bankruptcy settlement, meanwhile, said they would challenge Drain's confirmation because of the liability releases for the Sacklers. "This order is insulting to victims of the opioid epidemic who had no voice in these proceedings," said Washington state Attorney General Bob Ferguson. The Department of Justice urged Drain to reject the settlement. Attorneys general for nine states and the District of Columbia also opposed the plan.
Note: Purdue Pharma spent $1.2 million on lobbying just before making this deal. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Snopes, which has long presented itself as the internet’s premier fact-checking resource, has retracted 60 articles after a BuzzFeed News investigation found that the site’s co-founder plagiarized from news outlets as part of a strategy intended to scoop up web traffic. “As you can imagine, our staff are gutted and appalled by this,” Vinny Green, the Snopes chief operating officer, said. He said the Snopes editorial team was conducting a review to understand just how many articles written by David Mikkelson, the site’s co-founder and chief executive, featured content plagiarized from other news sites. As of Friday afternoon, the team had found 60, he said. By Friday morning, dozens of articles had been removed from the site, with pages that formerly featured those articles now showing the word “retracted” and an explanation that “some or all of its content was taken from other sources without proper attribution.” Mr. Mikkelson, who owns 50 percent of Snopes Media Group, will continue to be Snopes’s chief executive, but his ability to publish articles has been revoked, Mr. Green said. In a statement, Mr. Mikkelson acknowledged he had engaged in “multiple serious copyright violations of content that Snopes didn’t have rights to use.” From 2015 to 2019 — under the Snopes byline, his own name and another pseudonym — Mr. Mikkelson published dozens of articles that included language that appeared to have been copied directly from The New York Times, CNN, NBC News, the BBC and other news sources.
Note: There are many serious questions about the biases of Snopes and some of their unscrupulous tactics, as is covered in this Forbes article. For more along these lines, see concise summaries of deeply revealing news articles on media corruption from reliable sources.
As Purdue Pharma seeks approval for a controversial bankruptcy settlement, it has retained the services of highly compensated lobbying firms Brownstein Hyatt Farber Schreck and Capitol Hill Consulting Group. At the Purdue Pharma bankruptcy trial that began Thursday, Judge Robert Drain is widely expected to approve a proposed settlement of the Purdue Pharma bankruptcy that would release members of the billionaire Sackler family, the company’s owners, from all current and future opioid-related civil claims. In the year and a half leading up to the trial, Purdue spent at least $1.2 million on federal lobbying expenses as it worked toward the settlement, an Intercept review of lobbying records shows. If the settlement is approved, the Sacklers will be making a contribution of $4.28 billion, which will leave them with over $6 billion at minimum in total assets — money that will be effectively untouchable by opioid crisis victims, even though it is Purdue going bankrupt, not the Sacklers. “This whole bankruptcy was the Sacklers trying to buy immunity,” said activist Ed Bisch, who lost his son to an OxyContin overdose in 2001 and is a claimant and active opponent of the settlement. “The only question was what would be the price.” Among the lobbyists paid by Purdue Pharma — maker of the opioid painkiller OxyContin — since it filed for bankruptcy reorganization in September 2019 are politically connected Brownstein Hyatt, which received $480,000, and Capitol Hill Consulting Group, which got $300,000.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
The American Medical Association’s new training on pain management arrived in the midst of a burgeoning crisis. It was September 2007, and doctors were prescribing enough opioid painkillers each year for every American adult to have a bottle of the addictive pills. Overdoses were at a historic high and showed no signs of slowing down. Just four months earlier, executives at Purdue Pharma had pleaded guilty to felony charges for misleading regulators and physicians about the dangers of OxyContin. In light of this news, one might have expected the AMA ... to bring attention to the crisis in its newly updated continuing education course on how to treat pain. Instead, the 12-module training suggested that doctors were still too tentative about prescribing narcotics. “The effectiveness of opioid therapy may be undermined by misconceptions about their risks, particularly risks associated with abuse and addiction,” read materials from one session. Down in the fine print, the AMA-branded course materials reveal that the training’s development and distribution was made possible by an educational grant from Purdue Pharma. By now, the story of how Purdue Pharma sowed the seeds for the overdose crisis is the stuff of history books. But the years of Purdue’s involvement with the AMA have been strangely absent from that narrative. Between 2002 and 2018, the AMA and the organization’s philanthropic arm, the AMA Foundation, received more than $3 million from Purdue Pharma.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and health from reliable major media sources.
Pension funds, investment firms and Wall Street banks are snapping up family homes in Europe and the United States at a rapid pace as prices rocket higher. At the same time, the soaring cost of home ownership means that growing numbers of younger Americans and Brits renting rather than buying houses as they start families. Some of them may find their next landlord is based on Wall Street or in London's financial district. Analysts argue that this will improve standards in the rental sector. But some tenants who rent from corporate landlords dispute this, alleging substandard services and excessive rent increases. If investors are hoovering up existing properties that would otherwise have been sold to individuals, that could squeeze out first-time buyers. Household incomes in the United States and United Kingdom have not kept pace with rising home values in recent years, a trend made worse by the pandemic, which has sent average house prices in both markets to record highs. Invitation Homes, America's biggest single-family home leasing company with some 81,000 houses, is currently facing two lawsuits brought by tenants in California and Maryland who claim that the company's late rent fees constitute illegal penalties under state laws. Current and former tenants of the company ... painted a picture of an uncaring landlord, slow to make repairs and quick to threaten eviction when rent payments are overdue or withheld because of unresolved maintenance issues.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and income inequality from reliable major media sources.
The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren’t profiteering from their monopolies on COVID-19 vaccines, campaigners from The People’s Vaccine Alliance said today. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production. Colombia, for example, has potentially overpaid by as much as $375 million for its doses of the Pfizer/BioNTech and Moderna vaccines, in comparison to the estimated cost price. Despite a rapid rise in COVID cases and deaths across the developing world, Pfizer/BioNTech and Moderna have sold over 90 percent of their vaccines so far to rich countries, charging up to 24 times the potential cost of production. Neither company have agreed to fully transfer vaccine technology and know-how with any capable producers in developing countries, a move that could increase global supply, drive down prices and save millions of lives. Analysis of production techniques for the leading mRNA type vaccines produced by Pfizer/BioNTech and Moderna which were only developed thanks to public funding to the tune of $8.3 billion suggest these vaccines could be made for as little as $1.20 a dose. Yet COVAX, the scheme set up to help countries get access to COVID vaccines, has been paying, on average, nearly five times more.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering and coronavirus vaccines from reliable major media sources.
Strong sales of its COVID-19 vaccine and other medicines helped Pfizer nearly double its second-quarter revenue and boost its profit an impressive 59%, beating Wall Street expectations and leading the drug giant to sharply hike its 2021 sales and profit forecasts. Amid the surging coronavirus pandemic, the COVID-19 vaccine became Pfizer’s top seller, bringing in nearly half its revenue — $7.84 billion from direct sales and revenue split with its partner, Germany's BioNTech. Pfizer now anticipates revenue from the two-dose vaccine this year to reach $33.5 billion for the 2.1 billion doses it's contracted to provide by year end. That doesn't include a contract struck last week to provide an additional 200 million doses to the U.S. The New York company on Wednesday disclosed that ongoing testing of a booster shot, given six months after the second vaccine dose, showed it raised antibody levels against the more-transmissible Delta variant to 11 times higher in older people and five times higher in younger people, compared to levels after two doses. Pfizer has delivered more than 1 billion doses of the vaccine globally and expects to make 3 billion doses this year, with many more going to low- and middle-income countries from now through year's end. Most doses of all the COVID-19 vaccines produced in Europe and the U.S. so far have gone to wealthy countries.
Note: When public health is at stake, should private companies be making huge profits like this? Read more in this information article. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering and coronavirus vaccines from reliable major media sources.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
