The three largest Covid-19 vaccine manufacturers could have funded the full cost of vaccination in Africa with the money they paid to shareholders this year – and vaccine-sharing charity COVAX isn’t closing the gap. shows the analysis.
Pfizer, Johnson & Johnson and AstraZeneca, the three main producers of Covid-19 vaccines, could fund vaccination of the entire African continent, about 1.3 billion people, the People’s Vaccine Alliance vaccine advocacy group revealed Thursday.
Or rather, them he could have funded all those heists if they hadn’t spent that money to pay $ 26 billion in stock repurchases and dividends to their shareholders. The vaccines have largely been sold to rich countries, offsetting Pfizer / BioNTech and fellow modern mRNA vaccine maker for a whopping $ 33.5 billion, and many of the recipient countries have bought so many extra shots that their citizens are – in the case of Canada, at least – it should be covered up to five or more times.
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Many of the pioneering companies have pledged to raise the cost of vaccination for less wealthy nations in the early days of vaccine research, a promise that has helped secure funding from governments and charities. However, touting their unusually charitable behavior in the early days of vaccine buying and development has largely evaporated now that the money-rich West has its stocks locked in and third world countries are finally able to line up for the their. Pfizer and his colleagues are starting to talk about raising prices again – “once the pandemic environment has been overcome, “In the words of President Albert Bourla.
Given that the infection and mortality rates from Covid-19 in Africa have never reached the level of a “global disaster“At the start of the outbreak, it appears they are plotting to dig the entire continent for a medicine it doesn’t need as much as other countries, except in the eyes of the WHO. Given the continent’s familiarity with cheaper drugs. like chloroquine – a familiar and relatively safe remedy for malaria – many doctors had already used that unpatented formulation rather than twiddling their thumbs and watching patients die for months waiting for the much-lauded Western Miracle Vaccine to arrive.
With vaccine passports now looming in the future, however, many Africans face the high prices of not just the second or third. “booster“Shots except the initial shots themselves, all sold at full price. For countries dealing with a plate full of equally if not more deadly diseases, being told that their inhabitants cannot travel without getting a hit for Covid- 19 is wildly unfair.
To make matters worse, the US and EU members have already teamed up to block a legal loophole that would have allowed an exception to a World Trade Organization rule that allows pharmaceutical companies – their much sought-after products funded in largely from the government cash – to share their vaccine formulas with generic drug manufacturers. This measure would allow poor nations to inoculate their residents quickly and inexpensively while holding valuable vaccine recipes, but would steal some of the profits from Pfizer and its friends’ pockets – and therefore must not be allowed, in the eyes of Westerners. nations these companies call home.
The measure has been blocked at least three times in three separate meetings, although 100 of the 164 member countries of the WTO are in favor of the proposal. Unsurprisingly, one of the blockers in chief is the US trade representative, who has insisted on protecting intellectual property rights and “facilitate incentives for innovation and competition“It was the only way to ensure continued and rapid development of life-saving medicines, a notion supported by the UK and the EU – all of which are on top of abundant vaccine stocks for their citizens.
The WTO will meet informally on Thursday in Geneva to discuss once again opening the loophole that would allow less rich countries to use the proprietary formulas and its next formal meeting is set for May 5.
Meanwhile, the COVAX program, a vaccine-sharing program that intends to bulk purchase jabs from richer countries with the help of charitable dollars and send them to poorer countries around the world, specifically aimed at healthcare workers and others. With vulnerable demographics, it is far behind its target, having delivered only one in five of the Oxford / AstraZeneca shots it hoped to have distributed by May, the Guardian reported Thursday.
The program was initially endorsed last year by the World Economic Forum as an ambitious effort to vaccinate the world, presumably involving “nearly two thirds of the total population”- a reality that has not been successful.
While some countries, including smaller nations like Tuvalu, Nauru, and Dominica, have received their full supply of shots under the COVAX program, others, such as Bangladesh, Pakistan, and Myanmar, have not received a single dose of those promised.
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With Western-favored vaccines like Pfizer donating a relatively small number of doses at a nonprofit rate to the COVAX program and Moderna not even donating a dose, it’s clear which companies are investing the profits on people, it doesn’t matter. what the charity impulses indicate their words.
Overall, the program delivered only 21.5% of the doses scheduled by the end of May. It is funded by Gavi, one of several vaccine-related charities, Microsoft founder Bill Gates, and UNICEF.
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