apture by large companies, the system is often abused and high prices persist, granting to the privileged holders profits not justifiable by their contribution.
This is as socially inequitable as it is economically inefficient—its inadequacy dramatically exposed by the pandemic. Vaccines developed with substantial public contributions are generating hundreds of billions of dollars in sales for the pharmaceutical companies, while the coronavirus is still ravaging poorer nations which cannot afford immunisation.
The vaccine was expected to enter clinical testing by the end of the following month. At that point, it had already been almost entirely developed by the small German immunotherapy company. What Pfizer brought to the alliance was essentially funds for the clinical trials and commercial capabilities.
This is as socially inequitable as it is economically inefficient—its inadequacy dramatically exposed by the pandemic. Vaccines developed with substantial public contributions are generating hundreds of billions of dollars in sales for the pharmaceutical companies, while the coronavirus is still ravaging poorer nations which cannot afford immunisation.
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Fighting Covid-19 requires fewer patents and more state – Piergiuseppe Fortunato
