Michael Snyder (Opinion) - Is it ethical for companies to make billions of dollars in profits from the worst public health crisis that this generation has experienced so far? I think that this is a question that more people should be asking. Governments around the world are shelling out enormous mountains of money to fight this pandemic, and if much of that money ends up lining the pockets of people that are already exceedingly wealthy, that is something that a lot of people are going to have a big problem with. On Tuesday, we learned that Pfizer brought in 3.5 billion dollars from selling COVID vaccines during the first quarter of this year, and it is estimated that about 900 million dollars in profits were made on that revenue…
The vaccine brought in $3.5 billion in revenue in the first three months of this year, nearly a quarter of its total revenue, Pfizer reported. The vaccine was, far and away, Pfizer’s biggest source of revenue. The company did not disclose the profits it derived from the vaccine, but it reiterated its previous prediction that its profit margins on the vaccine would be in the high 20 percent range. That would translate into roughly $900 million in pretax vaccine profits in the first quarter.
That is one huge pile of money, but that is just the tip of the iceberg.
For the year, Pfizer is projecting that it will bring in 26 billion dollars in revenue from selling COVID vaccines, and they are hoping to turn it into “a long-term business”…
Pfizer Inc. laid out a plan.....READ MORE
Michael Snyder is a nationally syndicated writer, media personality and political activist. He is the author of 5 books including his latest, Lost Prophecies Of The Future Of America” which is available on Amazon.com. He has four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. Michael allows others to republish his work on other websites because he feels people need hope more than ever before, and its his goal to share the gospel of Jesus Christ.