{"id":197977,"date":"2021-10-25T12:00:52","date_gmt":"2021-10-25T11:00:52","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=197977"},"modified":"2025-01-10T15:08:26","modified_gmt":"2025-01-10T15:08:26","slug":"unconscionable-pfizer-moderna-to-rake-in-combined-93-billion-in-2022-covid-vaccine-sales","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2021\/10\/unconscionable-pfizer-moderna-to-rake-in-combined-93-billion-in-2022-covid-vaccine-sales\/","title":{"rendered":"\u2018Unconscionable\u2019: Pfizer, Moderna to Rake in Combined $93 Billion in 2022 COVID Vaccine Sales"},"content":{"rendered":"
\n

A report by health data analytics group, Airfinity, projects \u201cunprecedented\u201d sales and profits for Pfizer and Moderna in 2022. According to the People\u2019s Vaccine Alliance, the companies are pricing their vaccines by as much as $41 billion above the estimated cost of production.<\/em><\/p>\n<\/blockquote>\n

\"\"<\/a><\/p>\n

19 Oct 2021 – <\/em>Vaccine makers Pfizer and Moderna are projected to generate<\/a> combined sales of $93.2 billion in 2022 nearly twice the amount they\u2019re expected to rake in this year, said Airfinity<\/a>, a health data analytics group.<\/p>\n

Airfinity put total market sales for COVID vaccines<\/a> in 2022 at $124 billion, according to the Financial Times<\/a>.<\/p>\n

Pfizer vaccine sales are predicted to reach<\/a> $54.5 billion in 2022, and Moderna\u2019s will hit $38.7 billion. The estimates blow the earlier figures \u2014 $23.6 billion for Pfizer and $20 billion for Moderna \u2014 out of the water.<\/p>\n

\u201cThe numbers are unprecedented,\u201d Rasmus Beck Hansen, CEO of Airfinity, told the Financial Times<\/a>.<\/p>\n

Sales of the mRNA shots will continue to rise<\/a> in 2022 due to boosters<\/a> and countries stockpiling to ward off variants, Airfinity said.<\/p>\n

Pfizer will generate 64% of its sales, and Moderna 75% of its sales, from high-income countries in 2022, the analysts predicted.<\/p>\n

In April, Pfizer predicted<\/a> 2021 COVID vaccine sales of $26 billion. After second-quarter results were reported, Pfizer upped the figure<\/a> to $33.5 billion. Bernstein analyst Ronny Gal said the company could ring up an additional $10 billion in vaccine sales in 2021.<\/p>\n

Gal wrote:<\/p>\n

\u201cThe numbers are going to be much higher. The guidance of $33.5B reflects contracts signed to today which reflect total commitment to sell 2.1 million doses (at average price of $15.95). Pfizer notes they expect to manufacture 3 million doses. Presumably much of those will be sold as well, albeit at lower average price as consumption shifts to emerging markets. This is probably another $10 billion.\u201d<\/em><\/p><\/blockquote>\n

\u201cThe second quarter was remarkable in a number of ways,\u201d Pfizer CEO Albert Bourla said<\/a>. \u201cMost visibly, the speed and efficiency of our efforts with BioNTech to help vaccinate the world against COVID-19 have been unprecedented, with now more than a billion doses of BNT162b2 having been delivered globally.\u201d<\/p>\n

On a conference call, Bourla said that while \u201cit\u2019s very early to speak\u201d about the company\u2019s sales expectations for next year, he put Pfizer\u2019s 2022 production capacity at 4 billion doses.<\/p>\n

Moderna, Pfizer, BioNTech reaping \u2018astronomical and unconscionable\u2019 profits<\/strong><\/h3>\n

According to ActionAid International<\/a> \u2014\u00a0a global federation working for a world free of poverty and injustice \u2014 Moderna, Pfizer and BioNTech are reaping \u201castronomical and unconscionable profits\u201d due to their monopolies of mRNA COVID vaccines.<\/p>\n

Moderna and BioNTech are reporting 69% profit margins, with Moderna and Pfizer paying little in taxes, the People\u2019s Vaccine Alliance<\/a> said Sept. 15.<\/p>\n

Thanks to patent monopolies for COVID vaccines<\/a> \u2014 development of which was supported by $100 billion in public funding from taxpayers in the U.S., Germany and other countries \u2014 the three corporations earned more than $26 billion in revenue in the first half of the year, at least two-thirds of it as pure profit for Moderna and BioNTech.<\/p>\n

The Alliance also estimated the three corporations are over-charging, pricing their vaccines by as much as $41 billion above the estimated cost of production.<\/p>\n

\u201cBig Pharma\u2019s business model<\/a> \u2014 receive billions in public investments, charge exorbitant prices for life-saving medicines, pay little tax \u2014 is gold dust for wealthy investors and corporate executives but devastating for global public health,\u201d said Robbie Silverman, private sector engagement manager for Oxfam<\/a>.<\/p>\n

Silverman said pharmaceutical companies<\/a> are prioritizing their own profits<\/a> by enforcing their monopolies and selling their\u00a0 vaccines to the highest bidder. \u201cEnough is enough \u2014 we must start putting people before profits,\u201d Silverman said.<\/p>\n

According to an analysis<\/a> by the People\u2019s Vaccine Alliance, based on work by MRNA scientists at Imperial college, Moderna and Pfizer-BioNTech have charged up to 24 times the potential cost of production for their vaccines.<\/p>\n

Analysis of production techniques for Pfizer-BioNTech and Moderna, which were developed only thanks to $8.3 billion of public funding, suggest these same vaccines could be made for as little as $1.20 a dose.<\/p>\n

Despite benefiting from a multi-billion-dollar public investment in the development of their vaccines, pharma giants have not paid their fair share of taxes, ActionAid International reported<\/a>.<\/p>\n

In the first half of 2021, Moderna paid a 7% U.S. tax rate and Pfizer paid a 15% tax rate \u2014 well below the statutory rate of 21%.<\/p>\n

BioNTech, the German startup that produced the recipe for Pfizer\u2019s vaccine, paid a significantly higher tax rate of 31% in Germany while reaping a 77% profit margin.<\/p>\n

Moderna expects total vaccine sales of $20 billion in 2021. So far this year, Moderna has paid only $322 million in taxes, despite earning billions in profit.<\/p>\n

Pfizer\u2019s vaccine now accounts for more than a third of the company\u2019s overall revenue base. Pfizer sold more than $11 billion in vaccines in the first half of this year, and is now projecting $33.5 billion in total vaccine sales for 2021 \u2014 making the vaccine one of the top selling pharma products this year and potentially in the history of the pharmaceutical industry.<\/p>\n

Pfizer has stated its vaccine profit margins are less than 30%, but because the company doesn\u2019t disclose it\u2019s expenses, it was not possible to independently verify its profit margins, ActionAid International reported<\/a>.<\/p>\n

J&J made $502 million in third-quarter vaccine sales amid booster approval<\/strong><\/h3>\n

Johnson & Johnson<\/a> (J&J) said it made $502 million in sales<\/a> from its COVID vaccine in the third quarter, according to an earnings report released Tuesday.<\/p>\n

J&J\u2019s pharmaceutical business, which developed the single-shot COVID vaccine, generated $12.9 billion in revenue \u2014 a 13.8% year-over-year increase, CNBC reported.<\/p>\n

Sales of J&J\u2019s vaccine came in lighter than expected, Edward Jones analyst Ashtyn Evans said in a report<\/a> to clients. But the Dow Jones company still expects $2.5 billion in COVID vaccine sales this year.<\/p>\n

The company also said it has maintained its vaccine sales outlook for the year, and it plans to ship as much as it can through the rest of the year, CFO Joseph Wolk said on \u201cSquawk Box<\/a>.\u201d<\/p>\n

J&J\u2019s report experienced criticism<\/a> due to how the company handled the opioid crisis<\/a> and development of a comparatively less-effective COVID vaccine under outgoing CEO Alex Gorsky.<\/p>\n

On Oct. 15, the U.S. Food and Drug Administration\u2019s (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) unanimously recommended<\/a> giving a second booster dose to all recipients of J&J\u2019s COVID vaccine over 18 years old.<\/p>\n

The FDA panel placed no restrictions<\/a> on who should receive an additional J&J dose, unlike it did with mRNA vaccines, which are authorized only for use for certain high-risk groups. VRBPAC said the second shot should be given no earlier than two months after the first.<\/p>\n

__________________________________________<\/p>\n

\"\"<\/a> Megan Redshaw is a freelance reporter for <\/em>The Defender. She has a background in political science, a law degree and extensive training in natural health. <\/em><\/p>\n

 <\/p>\n

Go to Original \u2013 childrenshealthdefense.org<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

19 Oct 2021 – A report by health data analytics group, Airfinity, projects \u201cunprecedented\u201d sales and profits for Pfizer and Moderna in 2022. According to the People\u2019s Vaccine Alliance, the companies are pricing their vaccines by as much as $41 billion above the estimated cost of production.<\/p>\n","protected":false},"author":4,"featured_media":179650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[55],"tags":[887,232,1829,1868,2485,1864,2484,1447,2482,888,2631],"class_list":["post-197977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capitalism","tag-big-pharma","tag-capitalism","tag-coronavirus","tag-covid-19","tag-moderna-vaccine","tag-pandemic","tag-pfizer-vaccine","tag-science-and-medicine","tag-vaccine-passports","tag-vaccines","tag-vaers"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/197977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=197977"}],"version-history":[{"count":1,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/197977\/revisions"}],"predecessor-version":[{"id":284813,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/197977\/revisions\/284813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media\/179650"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=197977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=197977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=197977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}