Tag Archives: Big Pharma

Lack of Patent Waiver Would Add Over $70 Billion to Cost of Vaccinating World: Oxfam

Most of that money, said a spokesperson for the group, “will go directly into the pockets” of Big Pharma shareholders.

By Jon Queally staff writer for Common Dreams. Published 6-13-2021

Photo: James Bullock/Twitter

As leaders of the G7 were criticized for failing to rise to the challenge of the Covid-19 pandemic during their summit in the United Kingdom this weekend, Oxfam International on Saturday warned that failure of the world’s richest nations to fully embrace a lifting of intellectual property protections for life-saving vaccines could ultimately raise the cost of administering shots to the entire world by as much as $74 billion with most of that money going directly into the wallets of pharmaceutical companies and their wealthy shareholders.

Oxfam calculates that if patent protections were waived by the World Trade Organization (WTO) and vaccine production ramped up worldwide people in low- and middle-income nations could be adequately vaccinated for an estimated cost of $6.5 billion, but that if pharmaceutical companies are allowed to retain their for-profit stranglehold on production and distribution that cost would soar to $80 billion. Continue reading

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‘Let’s Do Insulin Next,’ Says Ocasio-Cortez After Biden Backs IP Waiver to Boost Covid-19 Vaccine Access

“We can do it with all lifesaving pharmaceuticals,” tweeted one group.

By Jessica Corbett, staff writer for Common Dreams. Published 5-5-2021

After the Biden administration on Wednesday caved to global pressure and endorsed waiving intellectual property protections for Covid-19 vaccines, progressives across the United States called for taking a similar approach to other lifesaving drugs and treatments made less accessible by Big Pharma’s greed.

“Let’s do insulin next,” tweeted Rep. Alexandria Ocasio-Cortez (D-N.Y.), a self-described “unapologetic advocate of Medicare for All” who also “believes that all people must have access to safe and affordable prescription medications.” Continue reading

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As Rich Countries Hoard Vaccines, India and Other Developing Nations Face Uncontrolled Covid Spread

“I think we haven’t seen the worst of it yet. It is beyond horror, what is happening… Yet, this is not yet the worst.”

By Jake Johnson, staff writer for Common Dreams. Published 5-4-2021

Open air crematorium in India. Photo: Press Club of India/Twitter

As rich countries that have hoarded vaccine doses and technology for months begin to accelerate their reopenings as coronavirus case counts level off or decline, India, Brazil, Nepal, Thailand, and other developing nations are in the grip of deadly and uncontrolled Covid-19 surges that experts fear could prolong the global pandemic and endanger the entire world.

On Tuesday, India became the second nation after the United States to surpass the 20 million-case mark, with the South Asian country reporting at least 357,000 new infections and 3,449 deaths over just the past 24 hours—the latest figures from a wave that is overwhelming strained hospitals and leaving facilities with fatal shortages of oxygen and other critical supplies. Continue reading

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200+ Groups From 67 Nations Demand ‘Transformational Change’ at Corporate-Friendly WTO

“The WTO’s hyperglobalization rules shaped a global economy that is not working for most people, and it’s due time to replace them.”

By Jake Johnson, staff writer for Common Dreams. Published 4-28-2021

WTO Headquarters. Screenshot: Sky News

More than 200 environmental groups, labor unions, and civil society organizations from 67 nations sent a letter to global heads of state on Wednesday demanding “transformational change” at the World Trade Organization, a relatively new institution that critics say is structurally inadequate and much too corporate-friendly to confront the planet’s most pressing challenges.

“The Covid-19 pandemic has exposed how the WTO model exacerbates insecurity, inequality, and instability,” argues the coalition, which includes Public Services International, Third World Network-Africa, and Public Citizen. “Legitimate global commercial rules should facilitate the improvement of the livelihoods, health, and wellbeing of all people around the world and the long-term survival of the planet. The WTO system has not met these goals: It was never fit for purpose and certainly is not now.” Continue reading

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Pressure Campaign Kicks Off in US to Force Big Pharma and Biden to End Vaccine Apartheid

The absence of a WTO patent waiver, say public health advocates, “means we won’t end the pandemic, millions of people will die, and the global economy will suffer.”

By Kenny Stancil, staff writer for Common Dreams. Published 4-22-2021

“Pfizer has spent the past year making billions of dollars in profits while people continue to die from Covid-19,” tweeted Health GAP on April 22, 2021. “It’s time to #FreeTheVaccine so the whole world has access to these life-saving vaccines!” (Photo: Twitter screengrab via Health GAP)

As vast global inequalities in access to Covid-19 vaccines exacerbate the ongoing pandemic, a coalition of progressive groups in the U.S. kicked off a week of action Thursday to urge President Joe Biden to support a temporary suspension of patent protections and to pressure pharmaceutical corporations to share technology in order to maximize the worldwide production of life-saving doses.

In the coming days, public health campaigners will gather at the headquarters of Pfizer, Moderna, and Johnson & Johnson in an attempt to push the major drugmakers to share relevant technology through the World Health Organization’s Covid-19 Technology Access Pool. Continue reading

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As Rich Countries Shield Pharma Monopolies, Just 0.2% of Covid Vaccine Doses Have Gone to Poor Nations

“We need the cooperation of the whole world and the elimination of all the barriers to the production and distribution of vaccines.”

By Jake Johnson, staff writer for Common Dreams. Published 4-11-2021

Graphic: Our World in Data/CC

The head of the World Health Organization estimated in a recent address that of the more than 700 million coronavirus vaccine doses that have been administered across the globe, just 0.2% have gone to people in low-income nations—inequity that experts warn will persist unless rich countries end their obstruction of an international effort to suspend vaccine patents.

Speaking to the media on Friday, WHO Director General Tedros Adhanom Ghebreysus warned that “there remains a shocking imbalance in the global distribution of vaccines” as pharmaceutical companies cling to their monopoly control over technology that was developed with large infusions of public money. Continue reading

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The Coming Antibiotic-Resistance Pandemic that Could Make COVID Look Like the Flu

While the Global South overprescribes antibiotics, in the West farm animals are pumped full of them, farmers even giving them to healthy animals so they can be packed tighter in ever-increasing herd sizes.

By Alan Macleod  Published 4-6-2021 by MintPress News

Photo: Gerard D Wright/CC

Big pharmaceutical companies have not come out of COVID-19 looking like model global citizens. Pfizer has been accused of bullying South American governments after demanding they put up military bases as collateral in exchange for vaccines. Meanwhile, Bill Gates persuaded Oxford University to sign an exclusive deal with AstraZeneca for its new offering, rather than allow it to be copied freely by all. The British/Swedish multinational quickly announced it would fall 50 million vaccines short on its first shipment to the European Union.

But what if there were a looming health crisis that could make COVID look almost minor in comparison? The World Health Organization (WHO) has been warning of just such a case for some time now, predicting that antimicrobial resistance will kill up to 10 million people every year by 2050 — almost four times as many as the coronavirus has killed in the past 12 months. Continue reading

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Big Pharma Quietly Planning Price Hike for Covid Vaccines in ‘Near Future’: Report

“As this shifts from pandemic to endemic, we think there’s an opportunity here for us,” said Pfizer’s Chief Financial Officer Frank D’Amelio.

By Kenny Stancil, staff writer for Common Dreams. Published 3-19-2021

Photo: KALW/CC

Eager to capitalize on the lasting presence of the coronavirus, executives at Johnson & Johnson, Moderna, and Pfizer—the pharmaceutical corporations that supplied the Covid-19 vaccines approved for use in the U.S.—are quietly planning to hike prices on doses “in the near future,” once they decide the pandemic is over, The Intercept’s Lee Fang reported Thursday.

Although the rapid development of coronavirus vaccines—made possible by large infusions of public resources—has given Big Pharma companies “a boost in goodwill… the public is still sensitive to drug pricing and the reputational risk has, so far, curtailed their ability to reap large financial rewards,” Fang noted. “But that environment, they hope, will change once the pandemic ends: a date that drugmakers themselves reserve the right to declare.” Continue reading

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New Report From Rep. Katie Porter Reveals How Big Pharma Pursues ‘Killer Profits’ at the Expense of Americans’ Health

“It’s time we reevaluate the standards for approving these mergers. It’s time we pass legislation to lower drug prices. And it’s time we rethink the structure of leadership at big pharmaceutical companies.”

By Brett Wilkins, staff writer for Common Dreams. Published 1-29-2021

A new report from Rep. Katie Porter (D-Calif.) reveals how Big Pharma uses mergers and acquisitions to increase profits at the expense of Americans’ healthcare.. Screenshot: CNN

Rep. Katie Porter on Friday published a damning report revealing the devastating effects of Big Pharma mergers and acquisitions on U.S. healthcare, and recommending steps Congress should take to enact “comprehensive, urgent reform” of an integral part of a broken healthcare system.

The report, entitled Killer Profits: How Big Pharma Takeovers Destroy Innovation and Harm Patients, begins by noting that “in just 10 years, the number of large, international pharmaceutical companies decreased six-fold, from 60 to only 10.” Continue reading

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‘Deeply Alarming’: AstraZeneca Charging South Africa More Than Double What Europeans Pay for Covid-19 Vaccine

“This is the problem when you have essential medicines in the hands of big business, with almost no transparency as to pricing.”

By Jon Queally, staff writer for Common Dreams. Published 1-22-2021

Photo: Jmarchn/Wikimedia Commons/CC

“The unfair patent system is now one the biggest obstacles to defeating this virus.”

That was the core critique from Nick Dearden, executive director of the U.K.-based advocacy group Global Justice Now, on Friday morning in response to news this week that South Africa is paying more than double for AstraZeneca’s Covid-19 vaccine compared to most countries in Europe.

According to a report by The Guardian, a Belgian minister leaked information revealing that European Union members are paying  €1.78 ($2.16) per dose for the AstraZeneca vaccine. Meanwhile, even as the pharmaceutical giant has said it would cap the price at €2.50 (approx. $3) per dose, South Africa’s deputy director general of health Anban Pillay confirmed to the newspaper that it was quoted a price of $5.25 per dose. Continue reading

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