Johnson & Johnson, Moderna and Pfizer– the largest producers of the COVID-19 vaccine– could potentially become corporate empires through the billions of dollars in profits they’re making.
With COVID-19 causes fluctuating across the country, all eyes are on major pharmaceutical companies like Pfizer, Moderna, and Johnson & Johnson’s vaccine roll-outs. While it’s easy to view these companies as corporate “knights in shining armor,” it’s important to look at the ‘more subtle’ goals of these corporations: the profits. The three largest companies producing these vaccines– Pfizer, Moderna, and Johnson & Johnson– are expected to make billions of dollars in revenue. To illustrate, the Food and Drug administration (FDA) has projected the combined might of these producers to make a combined of somewhere around 100 Billion dollars in revenue.
The largest distributor of the vaccines is, undoubtedly, Pfizer. Each dose of the Pfizer vaccine costs $38 USD, and Pfizer plans to distribute 1.3 billion doses internationally before the end of 2021. Pfizer and BioTech also came to 2 agreements with the United States Government, the first being after 100 million doses were received, they would be compensated with $1.95 billion, and they had the option to purchase 50 million more doses if necessary. The second agreement was once again another 100 million doses for $1.95B with the stipulation that at least 70 million of them be distributed before July of 2021. They are set to make nearly $15B, in 2021 alone.
The biotech company Moderna, which before the COVID-19 Pandemic, was a small up-and-coming company that was making merely $60 million in 2019. Moderna has since evolved to become a driving force in vaccine manufacturing. Now, Moderna is projected to make– according to Goldman Sachs– around $18B. This is, nonetheless, a great feat for the once small company, becoming a leader in the race to distribute vaccines. Moderna’s mRNA-1273 vaccine was concluded to be about 94.5 percent effective, and will be distributing 1 billion in 2021 and 1.2 billion in 2022 this would bring in billions to the company. Moderna has also created agreements with places like The United States, Japan, Canada, The UK, the European Union, and many more. Each one purchases no less than 5 million doses that cost $30 USD.
On February 27th of 2021 the Johnson & Johnson vaccine was approved for emergency use by the Food and Drug administration, and they immediately started rolling out their vaccine distribution. Different from Pfizer and Moderna, the Johnson and Johnson vaccine only requires one dose, and it is about 67 percent effective in protecting an individual from the virus.
By the end of March Johnson & Johnson is expected to have distributed 20 million doses of the vaccine to Americans, and 100 million by June of 2021. By the end of 2021 Johnson & Johnson’s goal is to produce and distribute 1 billion doses globally, and make a profit of 10 billion dollars. Each dose of the single shot vaccine is being sold to countries for 10 USD. The company has also made an agreement with The US 100 million doses in exchange for $1B, along with the option of purchasing another 200 million doses, if necessary.
ARTICLE: ISABELLA FLORES
U.S. NEWS EDITOR: CARSON WOLF
PHOTO CREDITS: ID4D
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