When global drugs industry executives appeared before a US congressional sub-committee last year, a senior Pfizer executive told policymakers concerned about equitable access to the Covid-19 vaccines under development that the price of its product would reflect the “extraordinary times”.
Sixteen months on, the $246 billion company and BioNTech, its German partner, have gone on to dominate the coronavirus vaccine market and are set to create the “most lucrative medicine ever produced”.
Paxlovid, Pfizer’s new antiviral pill that slashes the risk of hospital admission and death for people with Covid, will create further profits for the company and its shareholders. Shares in Pfizer rose by more than 8 per cent yesterday after the company said that results for the pill in trials had been better
