3 ms·
At least €375 million of that R&D was funded by the German government.[1] And that is just one very direct grant for this specific vaccine; other estimates tota
by Beltalowda 4y ago
At least €375 million of that R&D was funded by the German government.[1] And that is just one very direct grant for this specific vaccine; other estimates total US government spending on the vaccine from $18 billion to almost $40 billion USD (not all directly to Pfizer/BioNTech of course). And the Covid vaccine situation is not exceptional: government is almost involved to some degree in the form of R&D grants, clinical trail grants, being based on fundamental research at universities, etc.
And that's all fine; this is obviously a good way to spend government money as far as I'm concerned, and I don't really have any problems with Pfizer making a profit of it either, but ... there needs to be some balance. These people are socialist when it's convenient and then the next day they're hard-core capitalists when it's convenient.
[1]: https://biontechse.gcs-web.com/news-releases/news-release-details/biontech-receive-eu375m-funding-german-federal-ministry https://biontechse.gcs-web.com/news-releases/news-release-de...
[2]: https://www.healthaffairs.org/do/10.1377/forefront.20210512.191448/ https://www.healthaffairs.org/do/10.1377/forefront.20210512....
- ethagknight 4y agoThose were apparently grants, evidently coming with no long term contractual obligations. We needed a vaccine very quickly and we got it. I agree there needs to be balance, but are you wishing government agencies had delayed the process and spent time with lawyers working out a royalty agreements or otherwise handicapping Pfizer's development cost recovery? What if Pfizer spent all the money to develop the drug and it did not pan out?
- sieabahlpark 4y ago