Pharmaceutical giant Pfizer has hiked the prices for its COVID-19 shots by a staggering 10,000 percent while boasting of the “multi-billion dollar” profits that the vaccines are generating.
Pfizer’s Chief Financial Officer David Denton celebrated the highly-profitable shots for cementing billions of dollars in annual revenue for many years to come.
Denton made the comments during an earnings call with investors last week, during which the top executive praised the company’s control over treating the virus.
The CFO asserted that the virus had become “somewhat like a flu… but more deadly.”
He continued by gloating to investors that the vaccines and anti-virals produced by Pfizer to combat Covid would be “relevant for many years to come.”
Pfizer currently enjoys yearly profits of around $80 billion from sales of Covid vaccines and the antiviral drug Paxlovid that’s used to treat the virus.
However, $80B apparently isn’t enough for the company, with Denton promising much larger future profits.
Last month, the pharmaceutical giant revealed that it was tripling the price of the shot to up to $130 a dose.
This was already a huge leap from the $19 to $30 that governments previously paid.
“Some experts estimate each individual shot to cost just $1.18 to make – meaning the new price represents a 10,000% markup,” reports the Daily Mail.
The markup represents an effort to meet a projected revenue target of $32 billion this year.
Peter Maybarduk, Director of Access to Medicines at Public Citizen, notes that Pfizer has already made “obscene” profits.
The company grossed $40.9 billion in 2019 and $41.7 billion in 2020.
Pfizer is now projected to rake in $102 billion in total revenue this year.
Meanwhile, in a completely unrelated story, reports are emerging in the UK that there’s a striking new correlation between Autumn vaccine boosters and non-COVID excess deaths.
“The high excess deaths – many of which are heart-related – continued throughout the summer and didn’t drop off as the booster campaign finished,” writes Will Jones.
“This may be due to a delayed effect of vaccine injury, or other causes may be involved.”