“Morgan Stanley investment bank estimates Pfizer will rake in nearly $100 billion from COVID-19 vaccine sales over the next five years.” [Source: Yahoo.com]
By 2020 Pfizer’s total annual revenue from the sale of drugs and vaccines had already reached $41.9 billion. Putting this extraordinary sum into context, World Bank figures show it exceeds the gross domestic product (GDP) of more than half of the world’s 190 countries.
Looking at the pharmaceutical industry as a whole, a recent report estimated its annual revenue will reach a staggering $1.6 trillion by 2025. This amount excludes revenue from COVID-19 vaccines, which are expected to add still further to the total. A revenue of $1.6 trillion exceeds the current GDP of all but 10 of the world’s countries.
Illustrating one particularly immoral way in which these revenues are achieved, a report published in 2019 found pharmaceutical companies often charge poorer countries 20 to 30 times more for drugs than richer countries. This shows yet again that the main driving force of the pharmaceutical industry is profit, not human health.
To learn the facts about the pharmaceutical industry and its unethical business model, see the ‘Laws of the Pharmaceutical Industry’ educational feature on our website.