Article

2021-05-09 Economy

Good for Pfizer for making millions in profits

[NYPOST] The New York Times

...which still proudly displays Walter Duranty's Pulitzer prize...
reports: "Pfizer Reaps Hundreds of Millions in Profits From COVID Vaccine."

The pharma giant earned revenues of $3.5 billion in the first three months of 2021, estimated to generate around $900 million in profits. All the company had to do was create a safe drug that effectively alleviated the threat of the most deadly virus we’ve faced in over a century — one responsible for hundreds of thousands of American deaths and a cost of trillions in economic damage — and then manufacture and dispense hundreds of millions of doses in the shortest span of any vaccine ever created.

"Unlike several vaccine manufacturers that vowed to forgo profits during the COVID-19 pandemic, Pfizer planned to profit," explained former Secretary of Labor Robert Reich

...just one of many brilliant Liberal/Progressive intellectuals who stand firmly on every conventional idea put forth by their side, almost as if they’d not actually thought about any of it...

to his 1.3 million followers. "Today it announced that the vaccine brought in $3.5 billion in the first three months of 2021, nearly a quarter of its total revenue."

Good for Pfizer.

Why should Pfizer forgo profits that were netted using its time, talents, efforts and experience? Does Reich forgo his $300,000 a year teaching anti-capitalist bunkum to impressionable young minds?

Posted by Fred 2021-05-09 00:00|| || Front Page|| [11129 views ] Top

#1 And to think how cheap HCQ is....shocking development, shocking.

Posted by Clem 2021-05-09 00:53|| 2021-05-09 00:53|| Front Page Top

#2 Ironically, Pfizer bragged they didn't benefit from Operation Warp Speed, so the profit is all progressive.

Posted by Bobby 2021-05-09 08:26|| 2021-05-09 08:26|| Front Page Top

#3

OK the flip side...
Pfizer had an motivating incentive to accomplish greatness it is called PROFIT.

Something that causes businesses and capitalists to bust their butts to do thing great things.

In this case it resulted in a rapid solution, an RNA injection that Millions want and they delivered.

NOTE: As a consumer it is my choice to acquire or NOT acquire any product. In our case we are waiting for some Multi-Year historical data.

HOWEVER,
for the Socialist-Democrats (SD's) they push and demanding we take it, but then whine that it costs $$$$ and a company profited from it.

So SD's Put up or Shut up
Name a Socialist Country that developed its own Vaccine in a timely manner and produced 100's of Millions of doses?

Because even the recent CCP version is a Bad Copy of the Capitalist Worlds, which was already in use for many months.

Posted by NN2N1 2021-05-09 08:40|| 2021-05-09 08:40|| Front Page Top

#4 I doubt I will live long enough to read the multi year historical data. I just might live long enough to see the next pandemic, though.

Posted by Harry Sforza6078 2021-05-09 13:47|| 2021-05-09 13:47|| Front Page Top

#5 There are lots and LOTS of examples of 20th Century countries that tried to operate without a profit motive (Soviet Union, Communist China before 1979, etc., etc.)

Posted by Tom 2021-05-09 14:07|| 2021-05-09 14:07|| Front Page Top

#6 ^ And it's worth noting that the profit motive worked like a charm here. How does the $900 mil in profits generated by Pfizer compare to the benefits to the economy as a whole the Pfizer vaccine has produced? And Pfizer's $3.5 billion in revenue doesn't qualify as a rounding error in the massive federal spending schemes on the table, which I'm sure Reich supports (or opposes because they're not large enough).

Posted by Matt 2021-05-09 14:38|| 2021-05-09 14:38|| Front Page Top

#7 The main point is that Pfizer in delaying their announcement last Nov. ensured the Orange Man would not benefit from the success of Warp Speed. All else is gravy

Posted by Victor Emmanuel Omavise3904 2021-05-09 15:29|| 2021-05-09 15:29|| Front Page Top

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