The newest millionaires are from big pharma—mainly Pfizer, Johnson & Johnson, and AstraZeneca, who are selling profitable COVID-19 treatments worldwide. CEO salaries for the top 20 pharma companies are raking in multi-million compensation packages along with lucrative stock options.
Those millionaires are the result of the bottomless U.S. Treasury that can cough up taxpayers’ investment money in the billions. The gargantuan U.S.-Pfizer multi-billion-dollar deal was signed at warp speed at the behest of President Donald Trump, who, now out of office, is probably experiencing buyer’s remorse.
From the outset, taxpayers were never inoculated with normal protections as Pfizer got a sweetheart deal. For example, the deal excludes the normal intellectual property rights, which give the government leverage when the company engages in price gouging later.
While developing the vaccine in such a short time was hailed as “miraculous,” the government opted to give away the store in favor of short-term political goals. Critics point out that the Pfizer contract excludes the normal so-called Bayh-Dole rights, which allow the government to take over rights to the vaccine if a manufacturer cannot or will not make its product on reasonable terms.
Also, the Pfizer contract has no intellectual property rights most other government contractors must follow. Those include rights to studies and manufacturing techniques. Pfizer owns all its own research and development data.
So, with millions of Americans vaccinated, Pfizer is making an estimated $1,000 profit every second, even while the world’s poorest countries are essentially unvaccinated. One article in The Washington Post discloses secret contracts negotiated between Pfizer and other world governments. Those contracts allow “for little public scrutiny of Pfizer’s burgeoning power.”
Also, a consumer rights group was able to access some of those contracts, where the pharmaceutical giant Pfizer has maintained a tight level of secrecy. The report characterizes the contracts as consistently placing Pfizer’s interests “before public imperatives.”
Most alarming, a common theme in the contracts includes secrecy as well as prohibiting dose donation. Any disputes must be settled in secrecy in arbitration courts. Pfizer can change the terms around key issues like delivery dates, and use public assets as collateral.
Most vulnerable contracting countries were Brazil, Chile, Columbia and the Dominican Republic. The Pfizer contract requires those countries to give up their rights to be immune against Pfizer seizing those countries’ assets. One observer remarked that it was like asking the United States to put up the Grand Canyon as collateral.
Savvy business practices notwithstanding, Pfizer flooded the FDA with over 329,000 pages of data they provided to the FDA to get its license validated. A group of 30 scientists, academics and professors want the FDA to produce that information. The FDA asked the judge for a deadline date of 2076 for full disclosure.
Meanwhile, the U.S. Government is doubling down with a $5.29 billion payment for 10 million treatments of another experimental drug. The drug, branded as Paxlovid, will cost about $530 per treatment. Pfizer promises that the drug can cut in half the risk of dying or being hospitalized with Covid.
Again, like the Covid-19 vaccination, Pfizer wants an emergency authorization for FDA approval of the drug. President Biden said he has “taken immediate steps to secure enough supply (of Paxlovid) for the American people.”
As the Pill-Pusher-in-Chief hypes a widely untested drug, many are confused by the conflicting and mixed messages in coping with this pandemic. Aside from offering baffling advice and mandates on wearing face coverings, the Centers for Disease Control and Prevention on one hand says “COVID-19 vaccines are safe and effective.”
On the other hand, CDC monitors COVID vaccine “Adverse Event Reports.” Through November 12, 2021, the number of reported deaths connected with COVID-19 is an astonishing 8,664, begging the question, how is that “safe and effective”?
Finally, this article was inspired in part by an InfoWars special report. Conservative talk show host Alex Jones makes a strong case that Pfizer has dictated terms to the U.S. Government as well as the rest of the world.
Whether that unprecedented power is part of what Jones describes as a deadly conspiracy depends on one’s point of view. What is undeniable is that citizens in Australia and some European countries are being arrested for defying quarantine and vaccination mandates.