Tag: big pharma

Pfizer Plans to Hike Price of US COVID-19 Vaccine by 400 Percent

Pfizer is looking to raise the price of its COVID-19 vaccines in the United States by up to four times once Washington’s purchase program ends, according to the company’s U.S. president, Angela Lukin.

Pfizer’s COVID-19 vaccine is presently provided free for all Americans by the U.S. government. Next year, when the U.S. public health emergency expires, the COVID-19 vaccine market will move to private insurance. The federal government is paying roughly $30 per dose for the Pfizer vaccine. When the government purchase program shuts down, Lukin expects a dose to be priced around $110 to $130.

“We are confident that the U.S. price point of the COVID-19 vaccine reflects its overall cost-effectiveness and ensures the price will not be a barrier for access for patients,” Lukin said, according to Reuters.

The Pfizer executive is expecting the vaccine purchase to transfer to the private sector, “at the earliest,” by first quarter 2023. According to Lukin, the vaccine will continue to be available for free for people who have government or private insurance.

In 2021, Pfizer made almost $37 billion through COVID-19 vaccine sales, with overall revenues doubling, to $81.3 billion. The company is expecting revenues to reach $98 billion to $102 billion this year.

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Pfizer Exec Concedes COVID-19 Vaccine Was Not Tested on Preventing Transmission Before Release

A company executive admitted in a European Parliament hearing Pfizer was unsure its COVID-19 vaccine would stop transmission last year.

Pfizer’s Janine Small, president of international developed markets, acknowledged the vaccine manufacturer did not know if the vaccine would stop people from spreading coronavirus.

The Epoch Times further reported:

Roos, of the Netherlands, argued in a Twitter video Monday that following Small’s comments to him, millions of people around the world were duped by pharmaceutical companies and governments.

“Millions of people worldwide felt forced to get vaccinated because of the myth that ‘you do it for others,’” Roos said. “Now, this turned out to be a cheap lie” and “should be exposed,” he added.

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Tim Ryan Took Money From Opioid Distributor Whose Executives Mocked Addicts as ‘Pillbillies’

On the campaign trail, Rep. Tim Ryan, the Democratic Senate candidate in Ohio, likes to tell voters about his work as co-chair of the Congressional Addiction, Treatment, and Recovery Caucus and to attack pharmaceutical companies for profiting from “getting so many millions of Americans hooked on opiates.” None of that stopped him from accepting money from a political action committee funded by an opioid distributor whose executives mocked addicts as “pillbillies,” a Washington Free Beacon review of campaign finance documents found.

The $1,000 donation came from AmerisourceBergen PAC in November 2019. Emails revealed in 2021 during a lawsuit against the company for its alleged role in the opioid crisis showed AmerisourceBergen’s executives expressing broad contempt for poor whites suffering from addiction, which at the time was largely fueled by pharmaceuticals such as OxyContin.

In one exchange, a senior AmerisourceBergen executive circulated a parody song containing references to “hillbilly heroin,” “a bevy of Pillbillies” and a reference to Kentucky as “OxyContinville.” Another email shared between executives joked about how crackdowns against so-called pill mills—doctors who illegally prescribe opioids to customers—in Florida will lead to a “max [sic] exodus of Pillbillies heading north.” 

The donation could prove to be a political liability for Ryan, a Democrat running in a state that has been inordinately impacted by the opioid crisis. The Associated Press reported earlier this month that opioid distributors donated at least $27,000 to Ryan’s political campaigns since 2007.

At the same time, the AP found, Ryan voted against bills meant to increase funding for anti-opioid initiatives, such as spending packages for addiction treatment. In a statement to the AP, Ryan’s campaign said one of the donors, Cardinal, is a large employer in Ohio.

The Ryan campaign did not respond to a request for comment.

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Pharmaceutical Industry Suffers Billions In Losses After States Legalize Marijuana, New Study Finds

The pharmaceutical industry takes a serious economic hit after states legalize marijuana—with an average market loss of nearly $10 billion for drugmakers per each legalization event—according to a first-of-its-kind study.

The peer-reviewed research article, published in the journal PLOS ONE on Wednesday, looked at stock return and prescription drug sales data for 556 pharmaceutical companies from 1996 to 2019, analyzing market trends before and after the enactment of medical and adult-use cannabis legalization laws at the state level.

The stock returns were “1.5-2 percent lower at 10 days after legalization,” the study authors founds. “Returns decreased in response to both medical and recreational legalization, for both generic and brand drugmakersInvestors anticipate a single legalization event to reduce drugmaker annual sales by $3 billion on average.”

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Big Tech, Pharma, Finance Urge SCOTUS to Uphold Race-Based Discrimination in College Admissions

A large cross-section of corporate America filed briefs with the Supreme Court on Aug. 1 urging the court to allow colleges to continue using race as a factor in student admissions.

The court is poised to hear challenges to these racially discriminatory policies in its new term that begins in October. The challengers say so-called affirmative action not only hurts white applicants, but works out to be an “anti-Asian penalty” as well. Asian American applicants generally have higher academic scores and higher extracurricular scores, they say.

Some legal observers speculate that the nine-member court—whose six-member conservative majority broke new ground in June by curbing environmental regulatory powers, declaring that the court was wrong to recognize a constitutional right to abortion 49 years ago, and declaring that there is a constitutional right to carry firearms in public for self-defense—wouldn’t have agreed to hear challenges to race-based college admissions unless it intended to curb them.

The use of race-based criteria by institutions of higher learning in the admissions process isn’t popular in the United States.

Surveys from both Pew Research Center and Gallup have indicated that nearly 75 percent of Americans of all races “do not believe race or ethnicity should be a factor in college admissions.”

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