Vaccine manufacturers earn combined profits of $1,000 every second, according to an analysis from a pro-vaccine advocacy group.
Pfizer, BioNTech, and Moderna are set to earn $34 billion in profit this year from their vaccines alone, which works out to $93.5 million a day, $65,000 a minute, and more than $1,000 every second in profit, according to the People’s Vaccine Alliance, which calls for greater access to COVID-19 vaccines.
“Pharma companies reap in the profits whilst playing God with COVID-19 vaccines,” the group said Wednesday when announcing its analysis.
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The pretax profits of manufacturers behind the Moderna and Pfizer-BioNTech COVID-19 vaccines work out to approximately $93.5 million per day, according to estimations from the People’s Vaccine Alliance.
In 2020, Pfizer earned $41.9 billion total, with Moderna clocking in at $803 million and BioNTech at 482.3 million euros, which translates to $545.4 million.
“It is obscene that just a few companies are making millions of dollars in profit every single hour, while just 2% of people in low-income countries have been fully vaccinated against coronavirus,” said Maaza Seyoum of the People’s Vaccine Alliance Africa.
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To date, the United States has recorded a total of 47,145,861 COVID-19-related cases, and 761,426 deaths have been attributed to the coronavirus, according to data from the Centers for Disease Control and Prevention.
Roughly 195.4 million people in the U.S. are reported to be considered fully vaccinated, while 227.6 million are reported to have received at least one dose of a coronavirus vaccine, according to the CDC.
