big pharma

"In lieu of global cooperation and solidarity, pharmaceutical companies are being empowered to act as kingmakers ―deciding who lives and who dies― and using this new-found power to extract subsidies and potentially high prices for new COVID-19 vaccines," said Oxfam today in response to reports that French pharmaceutical company, Sanofi, will prioritize the US for any new COVID-19 vaccine.

More than 140 world leaders, experts and elders have made an unprecedented call for guarantees that COVID-19 vaccines, diagnostics, tests and treatments will be provided free of charge to everyone, everywhere.

Vaccinating the poorest half of humanity —3.7 billion people— against coronavirus could cost less than what the ten biggest pharmaceutical companies make in four months, Oxfam said today. 

"The unprecedented global health crisis must be met with a vaccine plan that puts people ahead of the profits of big pharmaceutical companies," said Oxfam ahead of the Coronavirus Global Response Summit on Monday 4 May, which aims to raise $8 billion to develop vaccines, treatments and tests to help end the Covid-19 pandemic.

Amid growing concern that the pharmaceutical industry’s pricing, tax and lobbying practices are undermining the health of millions of people in the US and across the globe, this briefing presents new findings on how the biggest corporate tax cut in a generation has benefited four of America’s pharmaceutical giants.

The world’s biggest pharmaceutical companies appear to be dodging an estimated $3.8 billion in tax per year across 16 countries, reveals a new report from Oxfam today.