Tag Archives: Pfizer

Promised Vaccine Stockpile Doesn’t Even Exist? Governors Demand Trump ‘Answer Immediately for This Deception’

States “thought they were getting more doses and they planned for more doses and opened up to 65 and up, thinking they were getting more.”

By Kenny Stancil, staff writer for Common Dreams. Published 1-15-2021

Earlier this week, the White House said the federal government would soon release coronavirus vaccine doses stored for second shots, but governors expecting increased shipments discovered Friday that no national stockpile exists, and now they are demanding that President Donald Trump’s administration be held accountable for deceiving the American public.

“Governors were told repeatedly by [the Department of Health and Human Services] there was a strategic reserve of vaccines, and this week, the American people were told it’d be released to increase supply of vaccine,” tweeted Washington Gov. Jay Inslee (D) on Friday. “It appears now that no reserve exists. The Trump admin. must answer immediately for this deception.” Continue reading

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‘What a Failed State Looks Like’: GOP Under Fire for Blocking Necessary Funds as Covid Vaccine Distribution Begins

“The end of a tragic, crippling pandemic is in sight and Senate Republicans can’t get around to authorizing any money to complete the job.”

By Jake Johnson, staff writer for Common Dreams. Published 12-14-2020

Margaret Klessens, a 96-year-old World War II veteran, gets the COVID vaccine in Massachusetts. Photo: Dr. Sanjay Gupta/Twitter

As U.S. distribution of the newly approved Pfizer-BioNTech coronavirus vaccine kicked off Sunday with the shipment of millions of doses to sites across the nation, Senate Republicans faced mounting outrage for continuing to block federal funds that crisis-ravaged states and localities desperately need to carry out an unparalleled mass inoculation effort.

Facing large budget shortfalls due to the Covid-19 pandemic and lack of relief from the deadlocked Congress, state and local governments will soon be tasked with executing a rapid vaccination campaign that will require large quantities of supplies as well as new clinics, additional workers, and public outreach—all of which will cost money that states and localities fear they don’t have. Continue reading

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Lawsuit by 44 States Accuses Pharma Giants of ‘Multi-Year Conspiracy’ to Hike Drug Prices by Over 1,000%

“We have hard evidence that shows the generic drug industry perpetrated a multi-billion dollar fraud on the American people.”

By Jake Johnson, staff writer for Common Dreams. Published 5-12-2019

Pfizer World Headquarters – New York City. Photo: Norbert Nagel/CC

A far-reaching lawsuit filed Friday by the attorneys general of more than 40 states accused some of the nation’s largest generic drug manufacturers of conspiring to inflate prices, in some cases by over 1,000 percent.

“We have hard evidence that shows the generic drug industry perpetrated a multi-billion dollar fraud on the American people,” Connecticut Attorney General William Tong, whose state led the probe into the companies’ practices, said in a statement. Continue reading

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Tom Price Bought Drug Stocks. Then He Pushed Pharma’s Agenda in Australia

by Robert Faturechi ProPublica, June 1, 2017, 8 a.m.

Tom Price. Photo: Gage Skidmore [CC BY-SA 2.0], via Wikimedia Commons

In the spring before the 2016 presidential election, the Obama administration’s 12-nation trade agreement known as the Trans-Pacific Partnership, or TPP, was still alive. Negotiators worked on details as Congress considered whether to ratify the pact.

The Australian government was getting in the way of one change demanded by U.S. pharmaceutical companies. Makers of cutting-edge biological drugs wanted to have data from their clinical trials protected from competitors for 12 years, as they are under U.S. law 2014 not the roughly five years permitted under the TPP. Australian officials insisted that an extension would deprive consumers of cheaper alternatives for too long. Continue reading

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In Biggest Tax Evasion Scheme of Its Kind, Big Pharma Becomes Behemoth

Mega-merger between pharmaceutical giants Pfizer and Allergan could lead to higher drug prices, watchdogs warn

Written by Deirdre Fulton, staff writer for Common Dreams. Published 11-23-2015.

The so-called "corporate inversion" would allow Pfizer to profit from a lower corporate tax rate in Allergan's home country of Ireland. (Photo: Chris Potter/flickr/cc)

The so-called “corporate inversion” would allow Pfizer to profit from a lower corporate tax rate in Allergan’s home country of Ireland. (Photo: Chris Potter/flickr/cc)

Big Pharma just became Huge Pharma.

Creating the world’s largest drugmaker—and paving the way for higher pharmaceutical prices—Viagra-maker Pfizer Inc. and Allergan PLC, which manufactures Botox, said Monday that they would merge in a so-called inversion deal worth up to about $155 billion.

The takeover “would be the largest inversion ever,” according to the Wall Street Journal, allowing Pfizer to profit from a lower corporate tax rate in Allergan’s home country of Ireland.

The LA Times reported that the deal “is likely to fuel critics’ concerns that consumers would pay even more for drugs as competition declines among manufacturers, insurers and retailers.”

As Gustav Ando, research director for the business information and consulting company IHS Life Sciences, told the Washington Post: “This merger isn’t meant to benefit patients, it isn’t meant to innovate in any kind of way…and certainly the benefits won’t be passed on to consumers.”

Addressing this aspect of the deal, presidential candidate and U.S. Sen. Bernie Sanders (I-Vt.) said Monday that the merger “would be a disaster for American consumers who already pay the highest prices in the world for prescription drugs.”

What’s more, Sanders added, “[i]t also would allow another major American corporation to hide its profits overseas.”

While Pfizer cried poor in an effort to justify the merger—saying the U.S. corporate tax regime was forcing it to compete against foreign rivals “with one hand tied behind our back”—the coalition Americans for Tax Fairness showed earlier this month that the company had in fact “dramatically overstated its corporate tax rates” and was already enjoying a significant competitive advantage over those who pay their fair share.

And a Citizens for Tax Justice report released last month found that Pfizer has a stunning 151 subsidiaries in known foreign tax havens—more than all but five other Fortune 500 corporations.

As U.S. Sen. Elizabeth Warren (D-Mass.) said in a speech on corporate tax reform last week, “Only one problem with the over-taxation story: It’s not true. There is a problem with the corporate tax code, but that isn’t it. It’s not that taxes are far too high for giant corporations, as the lobbyists claim. No, the problem is that the revenue generated from corporate taxes is far too low.”

On Friday, the U.S. Treasury Department unveiled new rules aiming to curb tax-lowering inversion deals. But even at the time, analysts said “there was scarce evidence they would stop the biggest inversion of them all, between Pfizer Inc and Allergan Plc.” The Obama administration has said Congressional action is necessary to eliminate corporate inversions for good.

This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License.

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