Pharmaceutical giants intend to make a profit from the Covid-19 vaccine

Pharmaceutical giants intend to make a profit from the Covid-19 vaccine 5

Pharmaceutical giants intend to make a profit from the Covid-19 vaccine

Four pharmaceutical companies are leading the race to develop vaccines: AstraZeneca, Johnson & Johnson, Moderna Therapeutics and Pfizer.

Companies also received investments of up to hundreds of millions of dollars from foreign governments to promote the vaccine launch process.

However, Moderna, the leader in the race, having received funding of up to 483 million USD, refused to do this.

`We will not sell it at cost,` Dr. Stephen Hoge, president of Moderna, stated.

This caused a debate among lawmakers.

Moderna’s headquarters is in Cambridge, Massachusetts.

During a Congressional hearing on July 21, several House members expressed concern about Pfizer’s refusal to accept government investment, saying this could lead to price discrepancies and lack of transparency.

`We do not accept federal funding because we want the vaccine to reach the clinical trial stage as quickly as possible. We will price the product based on global health urgency,` John Young,

Meanwhile, Dr. Raul Ruiz, representative of the California Democratic Party, questioned whether the problem in resolving the financial investment for vaccine development will prevent the product from reaching those most in need.

`I don’t want to let health equity become a fringe idea. It has to be a priority,` he said.

On July 20, both AstraZeneca and Pfizer announced preliminary data, showing that the vaccine can stimulate a strong immune response, leaving negligible side effects.

During the hearing on July 21, House members called on company executives to maintain their commitment to producing vaccines with the highest standards, not sacrificing quality in exchange for time.

`It is possible that the Covid-19 vaccine will be completed this year or early next year. This is rare good news in these difficult times. But we need to remind ourselves that many things can still go wrong.

The 5th `candidate` in the US comes from Merck.

`We do not expect to speed up the safety assessment process,` he said.

Previously, Kenneth Frazier, the company’s CEO, objected to exaggerating the vaccine production time, warning that a hasty approval process could destroy efforts to protect the community from pathogens.

Pharmaceutical giants intend to make a profit from the Covid-19 vaccine

Moderna researcher in the process of preparing the Covid-19 vaccine, February. Photo: NY Times

In a statement released on June 30, the Food and Drug Administration noted that any approved `candidate` would need to prevent or improve at least 50% of the user’s condition.

The head of pharmaceutical companies said federal approval is not the ultimate goal in vaccine development.

In a written statement, AstraZeneca, Johnson & Johnson and Pfizer reaffirmed their commitment to diversifying vaccine distribution, ensuring even the most vulnerable communities access and benefit from the product.

Meanwhile, Dr. Stephen Hoge, president of Moderna, announced that the company is looking for volunteers from many different races in the US to conduct phase 3. The unit also emphasized the importance of distributing the drugs.

`None of us is safe until all of us are safe,` said John Young, Pfizer’s chief business officer.

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