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Moderna accused of putting profits ahead of health issues


Moderna accused of prioritizing billions in net profits over eradication by supplying most of its Covid-19 vaccines to wealthy countries.


According to statistics from vaccine distribution data company Airfinity, the New York Times reported on September 9th (local time) that Moderna has sent more vaccine to wealthy countries than other Covid-19 vaccine manufacturers.

About 1 million doses of Moderna’s Covid-19 vaccine have been distributed to countries recognized by the World Bank as low-income. Meanwhile, Pfizer provided 8.4 million doses and Johnson & Johnson 25 million doses.

A number of middle-income countries that had signed contracts to receive Moderna vaccines had not yet received them. Additionally, Thailand and Colombia had agreed to introduce the vaccine at a higher price than the U.S. or EU.

In contrast with other vaccine manufacturers with a long history, Moderna has only produced vaccines for Covid-19.

Karen Anderson, an analyst at Morning Star, predicts that Moderna’s sales this year will reach $20 billion. She also predicted a net profit of $14 billion. Moderna reached $60 million in sales last year.

Dr. Tom Frieden, former director of the U.S. Centers for Disease Control and Prevention (CDC), characterized as “irresponsible” Moderna’s decision to maximize return on investment.

As a result of the criticism, Moderna executives stated they tried to make as many vaccines as quickly as possible, but that their capacity was limited.

Additionally, the company explained that all vaccines produced this year will be provided in accordance with EU member state government guidelines.

Biden Administration also pressured Moderna to increase its U.S. manufacturing production and to license its technology to foreign companies when the company stopped making vaccines for poor countries, according to the New York Times.

A plant in Africa

Moderna has responded by announcing that it will build a plant in Africa without a specific timeline. It also has been reported that the U.S. federal government is discussing the possibility of selling vaccines at low prices and donating them to developing nations.

For MetaNews.


Jonathan Hobbs

Jonathan Hobbs is an Australian investor and author that trades on a variety of asset classes, including currencies, equities, and commodities. Jonathan’s experience as a macro trader leverages his unique writing style to combine important elements, such as technical analysis and news. The other elements that he brings into his unique writing styles are foundation analysis aimed at rational equilibrium values, evaluating the sizes and motivations of buyers and sellers, as well as identifying the needs of the buyers and sellers in the individual markets. Jonathan is committed to quality writing for new traders as well as veterans.

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