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Pandemic vaccine successes are making billionaires of pharma execs, investors

by Hanna Ziady, CNN Business May 21, 2021 . Covid-19 vaccines have created at least nine new billionaires after shares in companies producing the shots soared. Topping the list of new billionaires are Moderna CEO Stéphane Bancel and Ugur Sahin, the CEO of BioNTech, which has produced a vaccine with Pfizer. Both CEOs are now worth around $4 billion, according to an analysis by the People’s Vaccine Alliance, a campaign group that includes Oxfam, UNAIDS, Global Justice Now and Amnesty International. Senior executives from China’s CanSino Biologics and early investors in Moderna have also become billionaires on paper as shares skyrocketed, partly in expectation of profits earned from Covid vaccines, which also bode well for the companies’ future prospects. The analysis was compiled using data from the Forbes Rich List.

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In discussions about Covid-19 vaccine patent waivers, social utility factor should be prioritised

Representational image. | Ernesto Benavides / AFP The United State’s Joe Biden administration’s move to support a waiver of intellectual property in the World Trade Organisation on Covid-19 vaccines is a welcome step in the world’s fight against a surging pandemic. The step also brings forth a much-needed and renewed conversation for richer nation-states to prioritise “social utility” considerations attached with processes of invention in a sector like healthcare. Back in 2016, I had discussed these in detail in context to India’s intellectual property rights policy. Even though big pharma companies may act as monopolists or oligopolists with vested interests and discourage any process to democratise cross-company dissemination of “economically profitable” vaccine research knowledge, there are geostrategic and public health considerations at play now that need priority above any perceivable gains for profit by corporations.

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Global Day of Action for a #PeoplesVaccine - Global Justice

Global Day of Action for a #PeoplesVaccine - Global Justice
globaljustice.org.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globaljustice.org.uk Daily Mail and Mail on Sunday newspapers.

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