BioNTech

New figures from the Peoples Vaccine Alliance reveal that the companies behind two of the most successful COVID vaccines – Pfizer, BioNTech and Moderna – are making combined profits of $65,000 every minute. The figures based on the latest company reports are released as CEOs from pharmaceutical industry meet for the annual STAT summit —the equivalent of a ‘Big Pharma Davos’— from 16-18 November.

Vaccine equity campaigners have called news that Covid-19 vaccine manufacturer BioNTech will start building a vaccine production facility in Rwanda next year “far too little, far too late”. 

The People’s Vaccine Alliance has also said that Moderna’s new commitment to produce 110 million doses for the African Union as “barely worth the paper it is written on” after the company failed to deliver promised vaccines to COVAX, calling on the US government to step in and mandate the company to commit to technology transfer.

Ahead of shareholder meetings for the giant pharmaceutical corporations, the People’s Vaccine Alliance calculates that Pfizer, Johnson & Johnson and AstraZeneca have paid out $26 billion in dividends and stock buybacks to their shareholders in the past 12 months.