As of March 26, we're $27,100 in the red for the quarter. Donate here to support this vital work
Subscribe here and join over 13,000 subscribers to our free weekly newsletter

Pharmaceutical Corruption News Stories

Below are key excerpts of revealing news articles on pharmaceutical industry 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.

For further exploration, delve into our comprehensive Health and Food Corruption Information Center.

Explore our comprehensive news index on a wide variety of fascinating topics.
Explore the top 20 most revealing news media articles we've summarized.
Check out 10 useful approaches for making sense of the media landscape.

Sort articles by: Article Date | Date Posted on WantToKnow.info | Importance

Medicare could’ve saved $3.6 billion by buying drugs at same prices as Mark Cuban’s online pharmacy, according to a new study
2022-06-21, Fortune
Posted: 2022-08-01 15:09:16
https://fortune.com/2022/06/21/medicare-costs-compared-mark-cubans-pharmacy/

Medicare’s drug program could have saved up to $3.6 billion in 2020 by mirroring the pricing strategy of entrepreneur and Shark Tank judge Mark Cuban’s online pharmacy, according to a new study. Cuban’s Cost Plus Drug Co. offers a selection of generic drugs at the cost of manufacturing them plus a flat 15% markup. The direct-to-consumer pharmacy does not accept insurance. The study’s authors suggest that Medicare is overpaying for many generic drugs and could save billions a year if it purchased them directly from Cuban’s online pharmacy. “The lower prices from a direct-to-consumer model highlight inefficiencies in the existing generic pharmaceutical distribution and reimbursement system, which includes wholesalers, pharmacy benefit managers, pharmacies, and insurers,” wrote researchers at Brigham and Women’s Hospital and Harvard Medical School in a brief published ... in the journal Annals of Internal Medicine. Cuban and his pharmacy did not fund or have any involvement in the study. Cost Plus Drug Co. says it engages in price negotiations with drugmakers. Medicare’s drug program, Part D, however, prohibits the government from directly negotiating pharmaceutical prices. Researchers compared 2020 Medicare spending for a total of 89 drugs ... to their prices at Cost Plus Drug Co. in February. They estimate that Medicare overpaid for 77 generic drugs, spending $8.1 billion compared with $4.5 billion if the federal agency had purchased at the same prices as Cost Plus Drug Co. charges.

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.


This Is How Big Pharma Wins
2022-02-21, New York Magazine
Posted: 2022-08-01 15:07:01
https://nymag.com/intelligencer/2022/02/this-is-how-big-pharma-wins.html

On September 19, 2019, House Speaker Nancy Pelosi introduced the Elijah Cummings Lower Drug Costs Now Act. The bill ... would allow the federal government to negotiate drug prices on behalf of Medicare, a right assumed by the governments of every other major economy. Polls showed support ranging from 80 to an eye-popping 90-plus percent. H.R. 3 was delivered stillborn into Mitch McConnell’s Senate in November of 2019. Two years later, when Joe Biden released the massive social-spending and climate-change bill dubbed Build Back Better, H.R. 3’s reforms were nowhere to be found. And at every level of government, Pharma’s endless river of money continues to flow, the widest, steadiest current of lobbying largesse the capitol has ever known. In 2021, the industry reported spending $124 million on a fleet of 846 lobbyists, roughly two for every member of Congress. Sixty-five percent were former government employees. Pharmaceutical manufacturers are part of a larger coalition that includes the insurance, medical-device, and hospital industries. Its combined resources flow downstream through dozens of lobbying firms, communications shops, and front groups. “If a freshman Democrat so much as signs a letter related to drug prices, the lobby hammers them with phone calls and meeting requests, completely locking up the calendar,” says Alex Lawson, executive director of Social Security Works. “The calls come in from ex-Democratic officials and staffers, so they have to take the meetings.”

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.


Big Pharma Is Hijacking the Information Doctors Need Most
2022-04-28, Time Magazine
Posted: 2022-08-01 15:05:05
https://time.com/6171999/big-pharma-clinical-data-doctors/

Why have so many smart, well-trained doctors stood by as American healthcare descended into a state of profound dysfunction? The answer lies in the gradual, nearly invisible commercial takeover of the medical “knowledge” that doctors are trained to trust. In 1981, President Ronald Reagan slashed government support of university-based medical research. Following the 1980 passage of the University and Small Business Patent Procedures Act, nonprofit institutions and their researchers were allowed to benefit financially from the discoveries made while conducting federally funded research. Over the past few decades, the drug companies have taken over most of our clinical research. In 1991, academic medical centers (AMCs)—hospitals that train doctors and conduct medical research—received 80 percent of the money that industry was spending to fund clinical trials. But by 2004, the percentage of commercially funded clinical trials conducted by AMCs had fallen from 80 to just 26 percent. That ... allowed the commercial funder to own, and thus control, the data from jointly conducted research. Unbeknownst to almost all doctors, peer reviewers are not granted access to the underlying data that serves as the basis for the reported findings. The drug companies own that data and keep it confidential. Reviewers must rely on brief data summaries. Peer reviewers at even the most prestigious medical journals cannot possibly attest to the accuracy and completeness of the articles they review.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in science and Big Pharma profiteering from reliable major media sources.


From FDA to MHRA: are drug regulators for hire?
2022-06-29, The BMJ (Formerly British Medical Journal)
Posted: 2022-07-24 20:33:56
https://www.bmj.com/content/377/bmj.o1538

Over the past decades, regulatory agencies have seen large proportions of their budgets funded by the industry they are sworn to regulate. In 1992, the US Congress passed the Prescription Drug User Fee Act (PDUFA), allowing industry to fund the US Food and Drug Administration (FDA) directly through “user fees.” The FDA moved from a fully taxpayer funded entity to one supplemented by industry money. Net PDUFA fees collected have increased 30 fold—from around $29m in 1993 to $884m in 2016. In Europe, industry fees funded 20% of ... the European Medicines Agency (EMA), in 1995. By 2010 that had risen to 75%; today it is 89%. Australia had the highest proportion of budget from industry fees (96%) and in 2020-2021 approved more than nine of every 10 drug company applications. But for decades academics have raised questions about the influence funding has on regulatory decisions, especially in the wake of a string of drug and device scandals—including opioids, Alzheimer’s drugs, influenza antivirals, pelvic mesh, joint prostheses, breast and contraceptive implants, cardiac stents, and pacemakers. An analysis of three decades of PDUFA in the US has shown how a reliance on industry fees is contributing to a decline in evidentiary standards, ultimately harming patients. A BMJ investigation last year found several expert advisers for covid-19 vaccine advisory committees in the UK and US had financial ties with vaccine manufacturers—ties the regulators judged as acceptable.

Note: For more on this massive legal corruption, see this article. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in Big Pharma from reliable major media sources.


California’s new $100 million plan to make insulin cheaper: What you need to know
2022-07-08, CNBC News
Posted: 2022-07-24 20:24:42
https://www.cnbc.com/2022/07/08/california-will-lower-insulin-prices-by-makin...

California will begin making its own low-cost insulin in an effort to make the essential diabetes treatment more affordable, Gov. Gavin Newsom announced on Thursday. “Nothing epitomizes market failures more than the cost of insulin,” the governor said in a video posted on Twitter, “Many Americans experience out-of-pocket costs anywhere from three hundred to five hundred dollars per month for this life-saving drug.” With a budget of $100 million, California plans to “contract and make our own insulin at a cheaper price, close to at cost, and to make it available to all,” Newsom said. It’s unclear exactly how inexpensive California’s insulin will be or when the low-cost drugs will be available. Insulin in the U.S. costs almost $100 per unit, on average. That’s nearly four times the price in Chile, which has the second-highest prices among the 34 countries analyzed by the nonprofit Rand Corporation, at less than $25 per unit. Currently, four in five Americans in need of insulin have incurred thousands of dollars in credit card debt to pay for the medication, according to a recent survey commissioned by health care organization CharityRx. The average debt among all survey participants was $9,000. California’s program will allot $50 million toward the development of cheaper insulin products and $50 million on an in-state insulin manufacturing facility, Newsom said, adding that the facility “will provide new, high-paying jobs and a stronger supply chain for the drugs.”

Note: The unethical corruption of big Pharma is so clearly seen in the ridiculously inflated prices of drugs in the US compared to other countries. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.


Researchers: Medical errors now third leading cause of death in United States
2016-05-03, Washington Post
Posted: 2022-07-24 20:21:12
https://www.washingtonpost.com/news/to-your-health/wp/2016/05/03/researchers-...

Nightmare stories of nurses giving potent drugs meant for one patient to another and surgeons removing the wrong body parts have dominated recent headlines about medical care. Lest you assume those cases are the exceptions, a new study by patient-safety researchers provides some context. Their analysis, published in the BMJ ... shows that “medical errors” in hospitals and other health-care facilities are incredibly common and may now be the third-leading cause of death in the United States — claiming 251,000 lives every year, more than respiratory disease, accidents, stroke and Alzheimer’s. Martin Makary, a professor of surgery at the Johns Hopkins University School of Medicine ... led the research. Makary’s research involves a ... comprehensive analysis of four large studies, including ones by the Health and Human Services Department’s Office of the Inspector General and the Agency for Healthcare Research and Quality that took place between 2000 to 2008. His calculation of 251,000 deaths equates to nearly 700 deaths a day — about 9.5 percent of all deaths annually in the United States. Although all providers extol patient safety and highlight the various safety committees and protocols they have in place, few provide the public with specifics on actual cases of harm due to mistakes. Moreover, the Centers for Disease Control and Prevention doesn’t require reporting of errors in the data it collects about deaths through billing codes, making it hard to see what’s going on at the national level.

Note: Read lots more about this disturbing fact. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health from reliable major media sources.


‘Paramount importance’: Judge orders FDA to hasten release of Pfizer vaccine docs
2022-01-07, Reuters
Posted: 2022-06-26 13:40:07
https://www.reuters.com/legal/government/paramount-importance-judge-orders-fd...

A federal judge in Texas on Thursday ordered the Food and Drug Administration to make public the data it relied on to license Pfizer’s COVID-19 vaccine, imposing a dramatically accelerated schedule that should result in the release of all information within about eight months. That’s roughly 75 years and four months faster than the FDA said it could take to complete a Freedom of Information Act request by a group of doctors and scientists seeking an estimated 450,000 pages of material about the vaccine. The court “concludes that this FOIA request is of paramount public importance,” wrote U.S. District Judge Mark Pittman. The FDA didn’t dispute it had an obligation to make the information public but argued that its short-staffed FOIA office only had the bandwidth to review and release 500 pages a month. While Pittman recognized “the ‘unduly burdensome’ challenges that this FOIA request may present to the FDA,” in his four-page order, he resoundingly rejected the agency’s suggested schedule. Rather than producing 500 pages a month — the FDA's proposed timeline — he ordered the agency to turn over 55,000 a month. That means all the Pfizer vaccine data should be public by the end of the summer rather than, say, the year 2097. Aaron Siri of Siri & Glimstad, who represents the plaintiffs, in an email said the decision "came down on the side of transparency and accountability." His clients ... have pledged to publish all the information they receive from the FDA on their website.

Note: Why did almost no major media pick up this important article? And read this revealing article on 800 individuals who Pfizer reported withdrew from their vaccine studies, some because of health problems which could have been caused by the vaccine. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.


Break Government Officials' Monopoly on Public Health
2022-06-10, Newsweek
Posted: 2022-06-20 12:33:56
https://www.newsweek.com/break-government-officials-monopoly-public-health-op...

Public health initiatives in the United States are suffering from a crisis of trust. Recent polls show that only a third of the public trusts insurance and pharmaceutical companies, while just 56 percent trust the government health agencies that are meant to regulate these industries. Another survey during the COVID-19 pandemic showed that only around half of Americans have a "great deal" of trust in the CDC, while a mere third have such trust in the Department of Health and Human Services. When the mRNA vaccines for COVID-19 were made available to the public free of charge, a national conversation began about "vaccine hesitancy"–the phenomenon of Americans choosing not to be vaccinated even when incentivized and, in some cases, coerced. Americans had watched public health experts lie, misdirect, ignore evidence and yield to professional pressure. Few wanted to be their guinea pigs. Not all the COVID-19 gaslighting was the fault of the media or politicians - much was implemented by experts abusing their apolitical position of trust. The experts ... including Drs. Deborah Birx and Anthony Fauci, insisted on the most asinine and evidence-free preventative measures, including facial coverings, lockdowns and social distancing. Their insulated role as health advisers enabled them to manipulate health policy in ways that benefited only themselves. The most stark example was the corruption of data collection at the Center for Disease Control–a scandal that crashed public trust to a new low.

Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.


Prices of new drugs have soared. Will legislation be able to stop it?
2022-06-07, NBC News
Posted: 2022-06-20 12:31:46
https://www.nbcnews.com/health/health-news/prices-new-drugs-soared-will-legis...

The prices of new drugs in the U.S. have climbed for more than a decade, a study published Tuesday finds. According to a research letter in the Journal of the American Medical Association, the launch prices of new brand-name drugs increased by nearly 11 percent every year from 2008 through 2021. “These prices are increasing far out of proportion to other health care services,” said the lead author, Dr. Benjamin Rome. Rome, and his colleagues observed price increases for all types of drugs, including cancer drugs, non-cancer drugs, pills and injections, he said. “Ultimately,” he said, “all health care costs are borne by consumers — either direct out-of-pocket costs, higher premiums or taxes in the case of public health insurance.” He added, “Insurance companies can also require prior authorization for expensive new drugs or not cover the drugs at all.” The researchers calculated the negotiable sticker prices for new drugs on the market, or the net price. Such prices, which were adjusted for inflation, were calculated in light of rebates many drugmakers offer for the drugs. The researchers limited their scope to drugs sold by public companies; the net price averages included nearly 400 new drugs in total. Median drug prices for a year’s supply increased from $2,115 in 2008 to more than $180,000 in 2021. The greatest increases were for cancer drugs and therapies used to treat rare diseases. In 2008, 9 percent of drugs cost $150,000 or more a year, compared to 47 percent in 2021.

Note: For a more detailed and eye-opening analysis, see this article. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering from reliable major media sources.


New Mark Cuban Company Slashes High Drug Prices: 'Life Changing'
2022-06-07, Newsweek
Posted: 2022-06-12 13:17:41
https://www.newsweek.com/mark-cuban-company-slashes-high-drug-prices-praise-s...

Celebrity investor Mark Cuban is receiving praise on social media after he launched a new company that provides patients access to affordable medications. Cuban launched the Mark Cuban Cost Plus Drug Company (MCCPDC), a direct-to-consumer online company that offers more than 100 generic medications at discounted prices. The investor said he aims to "be the low-cost provider of medications to patients." He continued: "If you don't have insurance or have a high deductible plan, you know that even the most basic medications can cost a fortune. Many people are spending crazy amounts of money each month just to stay healthy. No American should have to suffer or worse—because they can't afford basic prescription medications." The company's low costs are achieved by working directly with partners, which "allows us to only markup our costs by 15 percent," Cuban explained. Explaining the business model, Cuban cited the drug prescribed for hookworm, Albendazole, which can cost as much as $500 per course. "Our cost for Albendazole is $26.08 per course. We mark that price up by 15 percent so we can continue to run the company and invest in disrupting the pricing of as many drugs as we possibly can," he explained. "That makes the base price of the drug $30. Then we add on the actual cost, $3.00, that our pharmacy partners charge us to prepare and provide your prescription to you. "That makes the sales price on this website $33. Far, far lower than the pricing available in the marketplace."

Note: As big Pharma rakes in the huge profits, Marc Cuban has created a new company called CostPlus which brings many expensive drugs to you at a fraction of the price. Sadly, very few of the major media are reporting on this. Cuban says, “Everyone should have safe, affordable medicines with transparent prices.”


Broken system making it harder for hospitals and patients to get some life-saving drugs
2022-05-22, CBS News
Posted: 2022-06-06 18:13:31
https://www.cbsnews.com/news/generic-drugs-pharmaceutical-companies-60-minute...

American hospitals have been living with serious drug shortages for more than a decade. Most days, nearly 300 essential drugs can be in short supply. It's not a matter of supply and demand. The drugs are needed and the ingredients are easy to make. Pharmaceutical companies have stopped producing many life-saving generic drugs because they make too little profit. Yet, year after year, the government stays on the sidelines as companies take drug production offline - and doctors worry the shortages are compromising patient care. Neonatologist Dr. Mitch Goldstein treats the most vulnerable patients. Many ... premature and sick babies have undeveloped digestive systems, so Dr. Goldstein keeps them alive with intravenous nutrients, many of which are in short supply. Antony Gobin heads the pharmacy at Loma Linda Hospital. He told us shortages of basic drugs are a constant worry. "We were dealing with shortages long before COVID," [he said]. "They're all very old, fundamental drugs that every hospital in the country needs and uses." Drug shortages can kill. In 2011, when norepinephrine, an old, low profit drug used to treat septic shock, was in short supply, hundreds of people around the country died. Middlemen, the group purchasing organizations and drug distributors take their cut. The drug manufacturers end up with just a small fraction of what the patient pays. Many have simply stopped making the least profitable drugs.

Note: For more, see this article. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and health from reliable major media sources.


How drug companies' PR tactics skew the presentation of medical research
2011-05-20, The Guardian (One of the UK's leading newspapers)
Posted: 2022-05-31 01:06:00
https://www.theguardian.com/science/2011/may/20/drug-companies-ghost-writing-...

When doctors are deciding which drug to prescribe a patient, the idea behind evidence-based medicine is that they inform their thinking by consulting scientific literature. To a great extent, this means relying on medical journals. The trouble is that pharmaceutical companies, who stand to win or lose large amounts of money depending on the content of journal articles, have taken a firm grip on what gets written about their drugs. That grip was strong way back in 2004, when The Lancet's chief editor Richard Horton lamented that "journals have devolved into information laundering operations for the pharmaceutical industry." It may be even tighter now. Drug companies exert this hold on knowledge through publication planning agencies, an obscure subsection of the pharmaceutical industry. The planning companies are paid to implement high-impact publication strategies for specific drugs. They target the most influential academics to act as authors, draft the articles, and ensure that these include clearly-defined branding messages and appear in the most prestigious journals. There are now at least 250 different companies engaged in the business of planning clinical publications for the pharmaceutical industry. Many firms are based in the UK and the east coast of the United States. Having talked to over a dozen publication planners I found that the standard approach to article preparation is for planners to work hand-in-glove with drug companies to create a first draft.

Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.


Pfizer pushes to intervene in lawsuit seeking COVID vaccine information from FDA
2022-01-26, Reuters
Posted: 2022-04-04 15:17:27
https://www.reuters.com/legal/government/pfizer-pushes-intervene-lawsuit-seek...

Pfizer Inc wants to intervene in a Texas federal lawsuit seeking information from the U.S. Food and Drug Administration used in licensing the company's COVID-19 vaccine, a litigation move that plaintiffs who are suing for the data say is premature. Pfizer's lawyers at DLA Piper told U.S. District Judge Mark Pittman on Jan. 21 it wanted a role in the proceedings to help the FDA avoid "inappropriately" disclosing trade secret and confidential commercial information. On Tuesday night, the group of doctors and scientists who sued last year over public access to the FDA's Pfizer licensing records said in a court filing that the company's bid to jump into the lawsuit was untimely because the plaintiffs have not challenged any redactions to requested records. Earlier this month, the judge ordered a fast-track release of hundreds of thousands of documents, calling the case "of paramount public importance." U.S. government agencies control the release of information under federal public-records laws, but companies can challenge and even sue to block the disclosure of certain details. The FDA earlier drew criticism over its plan to release 500 pages a month in response to the lawsuit from Public Health and Medical Professionals for Transparency, a production schedule that would take more than 50 years to complete. In its filing, Pfizer said the company supports public disclosure of FDA records "to promote transparency and the public's confidence in the vaccine."

Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and coronavirus vaccines from reliable major media sources.


‘Wall of secrecy’ in Pfizer contracts as company accused of profiteering
2021-12-05, The Guardian (One of the UK's leading newspapers)
Posted: 2022-03-27 18:49:29
https://www.theguardian.com/uk-news/2021/dec/05/wall-of-secrecy-in-pfizer-con...

Ministers have agreed [to] a secrecy clause in any dispute with the drugs manufacturer Pfizer over Britain’s Covid vaccine supply. Large portions of the government’s contracts with the company over the supply of 189m vaccine doses have been redacted and any arbitration proceedings will be kept secret. The revelation comes as Pfizer is accused by a former senior US health official of “war profiteering’’ during the pandemic. Tom Frieden, who was director of the US Centers for Disease Control and Prevention under Barack Obama, said: “If you’re just focusing on maximising your profits and you’re a vaccine manufacturer ... you are war profiteering.” Zain Rizvi, research director at Public Citizen, a US consumer advocacy organisation which has examined Pfizer’s global vaccine contracts, said: “There is a wall of secrecy surrounding these contracts and it’s unacceptable, particularly in a public health crisis.” Rizvi said the UK needed to explain why it had agreed to secret arbitration proceedings. He said: “It’s the only high-income country we have seen that has agreed to this provision. It allows pharmaceutical companies to bypass domestic legal processes.” While AstraZeneca agreed to sell its vaccine at cost during the pandemic, Pfizer wanted to secure its profits. The Pfizer/BioNTech vaccine ... will be one of the most lucrative drugs in pharmaceutical history. One biological engineering expert [claims] the Pfizer vaccine costs just 76p to manufacture for each shot. It is reportedly being sold for £22 a dose to the UK government.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.


Influenza: marketing vaccine by marketing disease
2013-05-16, The BMJ (Formerly British Medical Journal)
Posted: 2022-03-20 23:31:15
https://www.bmj.com/content/346/bmj.f3037

Promotion of influenza vaccines is one of the most visible and aggressive public health policies today. Twenty years ago, in 1990, 32 million doses of influenza vaccine were available in the United States. Today around 135 million doses of influenza vaccine annually enter the US market, with vaccinations administered in drug stores, supermarkets—even some drive-throughs. This enormous growth has not been fueled by popular demand but instead by a public health campaign that delivers a straightforward ... message: influenza is a serious disease, we are all at risk of complications from influenza, the flu shot is virtually risk free, and vaccination saves lives. Yet across the country, mandatory influenza vaccination policies have cropped up, particularly in healthcare facilities, precisely because not everyone wants the vaccination, and compulsion appears the only way to achieve high vaccination rates. Closer examination of influenza vaccine policies shows that although proponents employ the rhetoric of science, the studies underlying the policy are often of low quality, and do not substantiate officials’ claims. The vaccine might be less beneficial and less safe than has been claimed, and the threat of influenza appears overstated. Since 2000, the concept of who is “at risk” has rapidly expanded, incrementally encompassing greater swathes of the general population. Today, national guidelines call for everyone 6 months of age and older to get vaccinated. Now we are all “at risk.”

Note: Full text available here. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.


Covid-19: WHO efforts to bring vaccine manufacturing to Africa are undermined by the drug industry
2022-02-09, The BMJ (Formerly British Medical Journal)
Posted: 2022-03-06 22:55:34
https://www.bmj.com/content/376/bmj.o304

A foundation representing the vaccine maker BioNTech has been accused of seeking to undermine the World Health Organization’s initiative to bring covid vaccine manufacturing to the African continent. The kENUP Foundation, a consultancy hired by BioNTech, has claimed that WHO’s hub, which is creating a covid-19 mRNA vaccine that African companies can make, is unlikely to be successful and will infringe on patents, documents obtained by The BMJ have shown. Instead, they show kENUP promoting BioNTech’s proposal to ship mRNA factories housed in sea containers from Europe to Africa, initially staffed with BioNTech workers, and a proposed new regulatory pathway to approve the vaccines made in these factories. The novel pathway has been described as paternalistic and unworkable. The move threatens the pan-African venture backed by WHO that seeks to scale up African production of lifesaving vaccines from 1% to 60% by 2040. WHO’s technology transfer hub, launched in June 2021 and based in South Africa, uses publicly available information to recreate Moderna’s vaccine, to teach companies and scientists across the continent how to use mRNA technology. It will then develop a comparable vaccine, which, if successful in clinical trials and approved by regulators, it will manufacture industrially. In a document sent to South African government officials after a visit to the country on 11-14 August last year, the kENUP Foundation said that the hub’s activity should be stopped.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources


How The Covid-19 Vaccine Injected Billions Into Big Pharma–And Made Its Executives Very Rich
2021-05-14, Forbes
Posted: 2022-02-27 19:38:30
https://www.forbes.com/sites/forbesdigitalcovers/2021/05/14/virus-book-excerp...

Before the Covid-19 pandemic, Big Pharma had been easing out of the vaccine business for decades. Ultimately, Operation Warp Speed (OWS)–the U.S. government's Covid-19 relief program–would dole out $22 billion to Big Pharma. The amounts of money were the kinds of sums normally seen in the smaller defense budget line items, but were massive for a public health project–$2.5 billion to Moderna, $1.2 billion to AstraZeneca, half a billion dollars to Johnson & Johnson, and $1.6 billion to a small company called Novavax. Only Pfizer opted out of ponying up to the trough at first–it didn't want to devote resources to coordinating with the US government on its work. In July, Pfizer signed a $1.95 billion deal to sell one hundred million doses of its two-shot vaccine to the United States, enough for fifty million people. By February, the government had ordered three hundred million doses from Moderna, with its first shipment of one hundred million priced at thirty dollars per double-shot dose–cheaper than Pfizer partly because the United States had forked over nearly a billion dollars to Moderna research. Even more money was raining down on company insiders trading on good-news releases. Executives at Moderna and Pfizer cashed in on the vaccine, selling shares timed precisely to clinical trial press releases. Pfizer executives ... earned $14 million from stock sales in 2020. Moderna executives made $287 million from timed stock sales in 2020–and kept going.

Note: Explore hundreds of personal stories of severe vaccine injury and death that are being strongly suppressed by government and the major media. An MD's excellent research reveals that the government knew about and actively suppressed safe, effective, low-price treatments for COVID and targeted physicians who prescribed them. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.


Pfizer revenue and profits soar on its Covid vaccine business
2021-11-02, CNN News
Posted: 2022-02-27 19:36:58
https://www.cnn.com/2021/11/02/business/pfizer-earnings/index.html

Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%. Both easily cleared results forecast by analysts. The vaccine business alone was responsible for more than 60% of the company's sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion of that revenue. Revenue outside of its Covid vaccine business was up a far more modest 7%. This year, the Covid vaccine has brought in revenue of $24.3 billion. And Pfizer said it expects a total of $36 billion from the vaccine for all of 2021 – nearly $12 billion more in revenue the final quarter of the year. And it said based on contracts it now has signed it expects revenue $29 billion from the Covid vaccine in 2022. The company said it now expects full-year 2021 revenue of between $81 billion to $82 billion, up $2 billion from its earlier guidance. It also raised its earnings per share outlook by about 3% to 5% above what it had been expected to earn. About 67% of the total US population has had a least one dose of a Covid vaccine, and 58% are fully vaccinated, according to data tracked by the Mayo Clinic.

Note: Explore hundreds of personal stories of severe vaccine injury and death that are being strongly suppressed by government and the major media. An MD's excellent research reveals that the government knew about and actively suppressed safe, effective, low-price treatments for COVID and targeted physicians who prescribed them. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.


Vaccine monopolies make cost of vaccinating the world against COVID at least 5 times more expensive than it could be
2021-07-09, Oxfam
Posted: 2022-02-21 19:09:34
https://www.oxfam.org/en/press-releases/vaccine-monopolies-make-cost-vaccinat...

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-19 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. Last week Pfizer/BioNTech announced it would licence a South African company to fill and package 100 million doses for use in Africa, but this is a drop in the ocean of need. 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.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.


Pfizer Reaps Hundreds of Millions in Profits From Covid Vaccine
2021-05-04, New York Times
Posted: 2022-02-21 19:07:48
https://www.nytimes.com/2021/05/04/business/pfizer-covid-vaccine-profits.html

Last year, racing to develop a vaccine in record time, Pfizer made a big decision: Unlike several rival manufacturers, which vowed to forgo profits on their shots during the Covid-19 pandemic, Pfizer planned to profit on its vaccine. On Tuesday, the company announced just how much money the shot is generating. The vaccine brought in $3.5 billion in revenue in the first three months of this year, nearly a quarter of its total revenue, Pfizer reported. The vaccine was, far and away, Pfizer's biggest source of revenue. The company did not disclose the profits it derived from the vaccine, but it reiterated its previous prediction that its profit margins on the vaccine would be in the high 20 percent range. That would translate into roughly $900 million in pretax vaccine profits in the first quarter. The company's vaccine is disproportionately reaching the world's rich – an outcome, so far at least, at odds with its chief executive's pledge to ensure that poorer countries "have the same access as the rest of the world" to a vaccine that is highly effective at preventing Covid-19. As of mid-April, wealthy countries had secured more than 87 percent of the more than 700 million doses of Covid-19 vaccines dispensed worldwide, while poor countries had received only 0.2 percent. Pfizer has kept the profitability of its vaccine sales opaque. The United States, for example, is paying $19.50 for each Pfizer dose. Israel agreed to pay Pfizer about $30 per dose.

Note: If Pfizer is truly concerned about global health, why are they reaping such huge profits when other companies were willing to forgo profits. And why are they not helping the economically disadvantaged countries? For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma profiteering from reliable major media sources.


Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.