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> Big pharma sure profits, but they profit most off such staple as baby powder and insulin. Their profits, data of efficiency on vaccines etc are under glare of
by steelstraw 5y ago
> Big pharma sure profits, but they profit most off such staple as baby powder and insulin. Their profits, data of efficiency on vaccines etc are under glare of scientific scrutiny, while their pain killers and opioids are where they don't get any investigation.
Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine.
The vaccine business alone was responsible for more than 60% of the company's sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion of that revenue. Revenue outside of its Covid vaccine business was up a far more modest 7%.
https://www.cnn.com/2021/11/02/business/pfizer-earnings/index.html https://www.cnn.com/2021/11/02/business/pfizer-earnings/inde...
It's the largest part of the business now, and they are protected from downside: Under the PREP Act, companies like Pfizer and Moderna have total immunity from liability if something unintentionally goes wrong with their vaccines.
https://www.cnbc.com/2020/12/16/covid-vaccine-side-effects-compensation-lawsuit.html https://www.cnbc.com/2020/12/16/covid-vaccine-side-effects-c...