Pfizer Q4 earnings: Pfizer has plundered health systems for profit, campaigners say

Pfizer Q4 earnings: Pfizer has plundered health systems for profit, campaigners say

Release date: 31 January 2023

Responding to Pfizer’s Q4 earnings, Julia Kosgei, Policy Co-Lead for the People’s Vaccine Alliance, said:

“In one year alone, Pfizer’s revenue has exceeded the total health expenditure of more than 100 countries combined. If it were a country, Pfizer would sit in the wealthiest third of nation-states. And it has amassed this fortune while jacking up prices on COVID-19 vaccines amid a pandemic that has devastated people’s livelihoods. Put simply, Pfizer has plundered health systems for profit.

“Billions of people in developing countries still cannot access affordable COVID-19 medicines. Companies like Pfizer are gobbling up ever-greater proportions of health budgets and handing the spoils to wealthy shareholders – all while treating access for developing countries as little more than a PR initiative. We cannot go on like this.

“This week, the WHO will reveal the ‘zero draft’ of a pandemic treaty. Governments must use this opportunity to stand up to the pandemic profiteers and demand that, in a health emergency, public health comes before private profit.”


Notes for editors

This is a reaction to Pfizer’s Q4 earnings announcement:

According to the World Health Organization Global Health Expenditure Database, the combined health expenditure of the bottom 108 countries equalled $97 billion (2020 figures):

Pfizer’s $100.3bn in revenue would place it 63rd of 190 in Worldometer’s ranking of countries by GDP, within the top third:

Experts have estimated that Pfizer’s vaccine costs just $1.18 per dose to make ( Oxfam analysis of studies of mRNA production techniques, carried out by Public Citizen with engineers at Imperial College). Charging $130 per dose, as Pfizer has suggested, would represent a markup of more than 10,000%.

Media contact

Joe Karp-Sawey, Senior Media Advisor, People’s Vaccine Alliance

[email protected]