Pharma Giants Charge Governments 5 Times Real Price Of COVID Vaccines - Alliance
Faizan Hashmi Published July 30, 2021 | 12:00 AM
MOSCOW (UrduPoint News / Sputnik - 30th July, 2021) The total cost of COVID-19 vaccination could have been five times less if the major pharmaceutical companies weren't taking advantage of their monopoly on COVID-19 vaccines, according to the People's Vaccine Alliance.
"The cost of vaccinating the world against COVID-19 could be at least five times cheaper if pharmaceutical companies weren't profiteering from their monopolies on COVID-19 vaccines. New analysis by the Alliance shows that the firms Pfizer/BioNTech and Moderna are charging governments as much as $41 billion above the estimated cost of production," the alliance said in a release.
Although the infection and death rates due to COVID-19 implications are rapidly growing in developing countries, the pharma giants have sold more than 90% of their COVID-19 vaccines to rich countries which overpay them as far as 24 times the actual price, the alliance went on.
Developing countries have low vaccination rates and the situation is getting worse, as the infections especially from COVID-19 Delta variant are rising. The inequalities become more obvious when statistics come into perspective. In the EU at the moment 57.8% of the population is vaccinated with at least one dose of the vaccine, according to European Center for Disease Prevention and Control. In the US this percentage is 56.8%, according to the Centers for Disease Control and Prevention. At the same time in very big developing countries with hundreds of millions of population those percentages are in single digits.
Recent Stories
ICC Womens T20 World Cup Qualifier, Match 2: Ireland Women open with Comfortable ..
Robinson, bowlers help New Zealand go 2-1 up against Pakistan
Shahzeb Chachar to hold khuli kachehri on April 26
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
Tourism must change, mayor says as Venice launches entry fee
Court adjourns Judicial Complex attack case till May 17
Nasreen Noori’s book ‘Popatan Jahra Khwab’ launched
Wafaqi Mohtasib inspection team visits Excise and taxation office
AJLAC announces 5th Conference titled ‘People’s Mandate: Safeguarding Civil ..
Pak-US officials engage to enhance trade, investment ties
IBCC to promote educational excellence, expand regional presence
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leav ..
More Stories From World
-
Slot 'confident' of Liverpool job as 'negotiations' take place
4 hours ago -
Google parent Alphabet's Q1 profits beat estimates: company
4 hours ago -
WADA asks 'independent prosecutor' to examine Chinese swimmers case
5 hours ago -
New York court overturns Harvey Weinstein sex crime conviction
5 hours ago -
Bagnaia and Spanish rivals chase victory at Jerez
6 hours ago -
Russian, Ukrainian strikes kill at least 10 in frontline regions
6 hours ago
-
Heatwave amid Israel's aggression in Gaza brings new misery, disease risk
7 hours ago -
Tourism must change, mayor says as Venice launches entry fee
7 hours ago -
Pakistani 'Blue Helmets' serving UN Peacekeeping Mission in DR Congo set to leave after 20 years of ..
7 hours ago -
Putin says plans to visit China in May
7 hours ago -
US reinstates open internet rules rescinded under Trump
7 hours ago -
Honda announces US$11 bn EV battery and vehicle plant in Canada
8 hours ago