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PREP Act is an American thing. Pharma requires liability waivers globally and changing laws to eliminate legal liability is a requirement of the contracts they
by native_samples 5y ago
PREP Act is an American thing. Pharma requires liability waivers globally and changing laws to eliminate legal liability is a requirement of the contracts they sign with governments.
Sometimes even that isn't enough. In some cases they demand collateral. They also demand immunity from criminal prosecution, even in cases where it's proven that people were injured through "negligence, fraud or malice":
https://www.pharmaceutical-technology.com/news/company-news/pfizer-latin-american-vaccine/ https://www.pharmaceutical-technology.com/news/company-news/...
"Government officials from Argentina and another Latin American country, which has signed a confidentiality agreement with Pfizer and so cannot be named, told the Bureau that Pfizer demanded additional indemnity against civil lawsuits citizens might file in relation to Pfizer’s Covid-19 vaccine.
Pfizer reportedly asked governments in Argentina and Brazil to put up sovereign assets, including military bases and federal bank reserves, as collateral for potential future legal costs.
According to government officials in Argentina and the unnamed country, Pfizer asked for liability protection not only against civil claims from citizens who suffer serious adverse events after being vaccinated, but also for cases brought due to Pfizer’s own negligence, fraud or malice. Documents from Brazil’s Ministry of Health suggest that Pfizer made similar demands of the Brazilian government."
- fer 5y agoPfizer allocated doses for those countries (and more) at non-profit prices. Argentina pays $12 per dose[0]. The EU, who haggled a lot, and bought a lot more, is paying $15, and the US pays almost $20. If Pfizer agreed to be held liable at any level, they'd be literally be agreeing to losing money. These countries are free to pay the regular price other countries are, with the usual emergency levels of indemnity. I'm sure Pfizer won't mind. What Argentina and Braz^H^H^H^H the other country want is to have the cake and eat it too: "you manufacture it, you bring it, you earn nothing, yet you're held accountable if things go wrong". Personally I wouldn't go in, not sure about you. This is actuarial 101. [0] https://www.batimes.com.ar/news/argentina/argentina-has-paid-for-46-of-its-covid-vaccines-to-date.phtml https://www.batimes.com.ar/news/argentina/argentina-has-paid...