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Pfizer Reaps Hundreds of Millions in Profits From Covid Vaccine

A number of components clarify the inequitable nature of Pfizer’s vaccine distribution.

The shot, which should be saved and transported at very low temperatures, is much less sensible for hard-to-reach elements of the world than different pictures, like these from AstraZeneca and Johnson & Johnson, that may merely be refrigerated. Some poor international locations had been initially not hit laborious by the virus, and so their governments had much less urgency to position orders for the Pfizer vaccine, to the extent that they might afford to pay for the pictures.

“Not everybody was within the vaccine or ready to take steps; thus, conversations proceed, together with working with Covax past their preliminary order of 40 million doses,” mentioned Ms. Castillo, the Pfizer spokeswoman.

In India, the place the virus is raging uncontrolled, Pfizer’s vaccine isn’t getting used. The corporate utilized for emergency authorization there however withdrew the application in February as a result of India’s drug regulator was not keen to waive a requirement that it run an area medical trial. On the time, India’s coronavirus case numbers had been manageable and vaccines being made regionally had been considered ample.

Pfizer and India’s authorities have since resumed talks. On Monday, Mr. Bourla said the corporate would donate greater than $70 million price of drugs to India and is attempting to fast-track the vaccine authorization.

Pfizer has publicly promised to run its firm not solely for the enrichment of shareholders, however for the betterment of society.

Mr. Bourla, who earned $21 million final yr, was among the many 181 heads of main firms who signed a Enterprise Roundtable pledge in 2019 to deal with serving an array of “stakeholders,” together with employees, suppliers and native communities — not solely traders.

The monetary figures that Pfizer reported on Tuesday understate how a lot cash the vaccine is producing. Pfizer splits its vaccine income with BioNTech, which can report its own first-quarter results subsequent week. BioNTech said in March that it had locked in income of almost 10 billion euros, or about $11.8 billion, primarily based on vaccine orders on the time.

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