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While the world struggles due to covid, 9 new billionaires due to Covid vaccine

Excessive profits from the covid-19 vaccines have helped created ATLEAST 9 new billionaires claimed a campaign group, calling for an end to monopolies on the production of vaccines.

The Edge Media by The Edge Media
4 years ago
in Business Edge, Main Story, Medical & Health
Reading Time: 1 min read
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While the world struggles due to covid, 9 new billionaires due to Covid vaccine
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People’s Vaccine Alliance, a group of organizations and activists are campaigning for people’s vaccine. They have recently claimed that the monopoly in the production of the Covid-19 vaccines has made the CEO’s and founders of 9 pharmaceutical companies billionaires. According to them, these 9 new billionaires have a combined net wealth of $19.3 billion which is more than enough to vaccinate all people in low income countries. Also, 8 existing billionaires have seen a rise in their net worth due to the same.

The list of these newly formed billionaires includes CEO of BioNTech, CEO and two founding investors of Moderna and the company’s chair, CEO of a company with a deal to manufacture and package the Moderna vaccine. The remaining billionaires are all co-founders of the Chinese vaccine company CanSino Biologics.

This is happening because the stocks of Pharmaceutical companies are seeing a rapid rise in the expectancy of huge profits from the Covid-19 vaccine.

 

Tags: billionairesBiontechcansinoCoronaviruscovidcovid vaccinemodernaworld covid update
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