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Vaccine manufacturers make $1,000 every second – Body

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THERE are indications that COVID-19 vaccine manufacturers are making combined profits of $65,000 every minute from their highly successful products while world’s poorest countries remain largely unvaccinated.

  A new analysis issued today by a global watch dog, People’s Vaccine Alliance (PVA), gave their names as Pfizer, BioNTech and Moderna.

  Chief Executive Officer of African Alliance and People’s Vaccine Alliance Africa, Maaza Seyoum, said the companies have sold the vast majority of their doses to rich countries, leaving low-income nations in the lurch.

  According to him, a coalition campaigning for wider access to COVID-19 vaccines, which based its calculations on the firms’ own earning reports.

  PVA also estimates that the three companies will make pre-tax profits of $34 billion this year between them, which works out to over $1,000 a second, $65,000 a minute or $93.5 million a day.

  “It is obscene that just a few companies are making millions of dollars in profit every single hour, while just 2 per cent of people in low-income countries have been fully vaccinated against coronavirus. Pfizer, BioNTech and Moderna have used their monopolies to prioritise the most profitable contracts with the richest governments, leaving low-income countries out in the cold,” he said.

  It will be recalled that Pfizer and BioNTech have delivered less than one per cent of their total supplies to low-income countries while Moderna has delivered just 0.2 per cent. But currently, 98 per cent of people in low-income countries have not been fully vaccinated.

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