In a move that should come as a surprise to absolutely no one, CNN Business has chosen to honour Pfizer’s Albert Bourla as the network’s “CEO of the Year.” Pfizer has enjoyed more than $30 billion in profits thanks to the coronavirus vaccine, and has spent plenty of those gains on advertising, much of it on CNN:
But no doubt this selection had nothing to do with that. In his puff piece, Paul R La Monica of CNN Business writes:
CNN Business considered several other influential CEOs for this year’s honor, including Lisa Su of AMD (AMD), Ford’s (F) Jim Farley, Marvin Ellison of Lowe’s (LOW), David Solomon of Goldman Sachs (GS), Alphabet’s (GOOGL) Sundar Pichai and, yes, Time Person of the Year Elon Musk of Tesla (TSLA)/SpaceX.
But Bourla was our choice for all that Pfizer has done in a year where Covid vaccines went mainstream (vaccine was even named word of the year by Merriam-Webster) and helped stabilize America’s economy — and the world’s for that matter.
“Pfizer did a lot of good [for] humanity and we are very, very proud of it,” Bourla said in an interview with CNN Business. “Not only were we able to save so many lives … but we are enjoying high levels of corporate reputation right now. People like us.”
Unintentionally hilarious, the same piece adds that:
Bourla also acknowledged that there are cynics who question whether Pfizer is just trying to make as much money as possible from the vaccine.
Original post begins below the asterisk
In 2020, Pfizer generated total revenues of over $41.9 billion. This compares to its reported revenue of over $24 billion U.S. dollars during the third quarter of 2021, mostly driven by its covid-19 vaccine which was developed in cooperation with German company BioNTech. It is the highest quarterly revenue during the whole period shown above.
While AstraZeneca agreed to sell its vaccine at cost during the pandemic, Pfizer wanted to secure its profits. The Pfizer/BioNTech vaccine, which now has the brand name Comirnaty, will be one of the most lucrative drugs in pharmaceutical history.
[A] Channel 4 investigation reveals analysis by one biological engineering expert claiming the Pfizer vaccine costs just 76p to manufacture for each shot. It is reportedly being sold for £22 a dose to the UK government.
From an article entitled “‘Wall of secrecy’ in Pfizer contracts as company accused of profiteering” written by Jon Ungoed-Thomas published in The Observer on December 5th.
Click here to watch the Channel 4 Dispatches documentary entitled “Vaccine Wars: Truth About Pfizer” first broadcast on Friday December 10th.
And here’s the news you didn’t hear:
Dinah Fuentesfina, Campaigns Manager at ActionAid International, writes:
“More than 200 million people have been infected during this pandemic, more than 4.5 million people have died, and at least nine new billionaires have been minted thanks to COVID.
“This truly is the inequality virus. We create vaccine billionaires but fail to vaccinate billions of people in desperate need. Given the vast public investment in the development of these vaccines and the overwhelming public health need throughout the world, these life-saving vaccines must be global public goods.”
Click here to read the full statement posted by ActionAid International on September 15th.