If Pfizer were a country, it would have the 66th largest GDP in the world
Global Justice Now, a social justice group campaigning for equitable access to Covid-19 vaccines, highlights that:
- Pfizer’s annual revenue has doubled to $81 billion, more than the GDP of the majority of countries. If Pfizer were a country, it would have the 66th largest GDP in the world, ahead of countries like Ethiopia, Kenya, Ghana, Guatemala, Oman, and Luxembourg. (1)
- Pfizer’s bumper revenues are driven largely by their vaccine, which was first developed by smaller German company BioNTech with €100m in debt financing from the publicly-owned European Investment Bank and a €375m grant from the German government. Pfizer also received a $1.9 billion early order from the US government to de-risk R&D. (3)
- Pfizer has charged Britain’s National Health Service (NHS) an estimated £2.82 billion above production cost for the 189 million doses of Covid-19 vaccines the UK has bought.
- Pfizer says that a non-profit dose of their vaccine costs just $6.75, or £4.98, to produce, but it has reportedly charged the NHS £18 a dose for the first 100 million purchased and £22 a dose for the next 89 million, totalling £3.76 billion.(3, 4) This amounts to an “eye-watering” 299% mark-up (4). Experts estimate the true cost price to be even lower.
Source: Global Justice Now