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Roger Klarvin
North Carolina Fan
Member since Nov 2012
44236 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

25%


In 2020 Pfizer’s total revenue was $42 billion and gross profit was $32 billion, and those numbers are down from prior years.

But even if it had been 25%, my point still stands. 25% of my salary is $68,750, which isn’t chump change but I can live very comfortably on the other 75% alone. My life doesn’t change substantially without that 25%. Likewise a company making well into the 10 figures in annual revenue isn’t gonna complain about a 25% profit boost, but it’s still small beans compared to everything else.


David_DJS
Member since Aug 2005
3674 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

Profits of companies who came up with a product in record time, poo-pooed.

Do you think the reaction to Pfizer's profits could be in response to the COVID industry, which really can't be described in free market/capitalism terms?


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10
Roger Klarvin
North Carolina Fan
Member since Nov 2012
44236 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

Correct. As I've said for years, there are few real conservatives on this board, just people who hate the personification of the left. Handouts like TOPS are vociferously supported. Profits of companies who came up with a product in record time, poo-pooed.


A majority of the posters on this board are defined by their rabid social conservatism and war hawking, but relative liberal fiscal beliefs. They simply want the government to legislate and fund their moral agenda and the military industrial complex but don’t actually care how much that costs or how big the deficit is. And they certainly don’t care about big government so long as government is enforcing their ideals.

The great irony is most here actually support the expansion of the executive branch’s power, judicial activism, etc. They just don’t like it when the left controls those levers of power.
This post was edited on 5/4 at 11:52 am


AUstar
Auburn Fan
Member since Dec 2012
12435 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

And weren't their development costs covered by the taxpayer?


Pfizer took zero government dollars to develop their vaccine. They refused Warp Speed money. The only thing they got was a guarantee that so many doses would be purchased if it passed clinical trials.


cwill
Member since Jan 2005
47550 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
They don't really hate big gov or big gov intervention, they just hate it when it's not enforcing their point of view, doing what they want it to do. It's why you see the anti-capitalist rants...and Vacherie Saints inability to critically read.


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11
David_DJS
Member since Aug 2005
3674 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

In 2020 Pfizer’s total revenue was $42 billion and gross profit was $32 billion, and those numbers are down from prior years.


Their net income was up about 30% year-over-year.

Pfizer increased its COVID revenue forecast for this year to $26 billion. Pfizer's 2019 total revenue was $51B. So the COVID vaccine represents a 50% increase in pre-COVID revenue.


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Vacherie Saint
New Orleans Saints Fan
Member since Aug 2015
27040 posts
 Online 

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
Then you should have said "sounds like an anti-capitalist's rant", not "sounds like an anti-capitalist rant". An anti capitalist person versus an anti capitalist idea. The latter implies that you were throwing the capitalist's remark about government back in his face in order to highlight the duplicity of his statement - which is perfectly in line with your post history. Shit, I do that on here every goddam day.



David_DJS
Member since Aug 2005
3674 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

The only thing they got was a guarantee that so many doses would be purchased if it passed clinical trials.

You don't see that as a huge get?

Did other drug makers get developmental dollars?


cwill
Member since Jan 2005
47550 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

Then you should have said "sounds like an anti-capitalist's rant", not "sounds like an anti-capitalist rant". An anti capitalist person versus an anti capitalist idea. The latter implies that you were throwing the capitalist's remark about government back in his face in order to highlight the duplicity of his statement - which is perfectly in line with your post history. Shit, I do that on here every goddam day.


You're a fricking retard.


Jbird
Iowa Fan
In Bidenville with EthanL
Member since Oct 2012
66012 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:


The only thing they got was a guarantee that so many doses would be purchased if it passed clinical trials.


You don't see that as a huge get?

That and you can't sue them.


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Vacherie Saint
New Orleans Saints Fan
Member since Aug 2015
27040 posts
 Online 

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

You're a fricking retard.
compelling.


AUstar
Auburn Fan
Member since Dec 2012
12435 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:


Did other drug makers get developmental dollars?


Yes Moderna took Warp Speed money and worked with NIH to develop theirs. Not sure about J&J but I think they took money as well. And, of course, there are others who have yet to release vaccines that took money.

As for the guaranteed dose thing, yeah it's beneficial for sure. However, if the trial failed, they'd have to dump all those doses and eat all the R&D costs as well.


cwill
Member since Jan 2005
47550 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
I've really come to suspect that you are considering the miserable reading of the post...and maybe, taking that fact, it was a little harsh to use the r-word. I'm sorry you're mentally challenged and can't process basic, simple English.


Jbird
Iowa Fan
In Bidenville with EthanL
Member since Oct 2012
66012 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
The vaccine brought in $3.5 billion in revenue in the first three months of this year, nearly a quarter of its total revenue, Pfizer reported. The vaccine was, far and away, Pfizer’s biggest source of revenue.

The company did not disclose the profits it derived from the vaccine, but it reiterated its previous prediction that its profit margins on the vaccine would be in the high 20 percent range. That would translate into roughly $900 million in pretax vaccine profits in the first quarter.

But the company’s vaccine is disproportionately reaching the world’s rich — an outcome, so far at least, at odds with its chief executive’s pledge to ensure that poorer countries “have the same access as the rest of the world” to a vaccine that is highly effective at preventing Covid-19.

Pfizer frequently points out that it opted not to take federal funds proffered by the Trump administration under Operation Warp Speed, the initiative that promoted the rapid development of Covid-19 vaccines.

But BioNTech received substantial support from the German government in developing their joint vaccine. And taxpayer-funded research aided both companies: The National Institutes of Health patented technology that helped make so-called messenger RNA vaccines possible. BioNTech has a licensing agreement with the N.I.H., and Pfizer is piggybacking on that license. LINK


Y.A. Tittle
LSU Fan
Member since Sep 2003
84975 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

quote:
The only thing they got was a guarantee that so many doses would be purchased if it passed clinical trials.

You don't see that as a huge get?

Did other drug makers get developmental dollars?


Were any denied the opportunity to attempt to similarly develop a vaccine? I honestly don't know, but if not, I don't get the point.


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Roger Klarvin
North Carolina Fan
Member since Nov 2012
44236 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

That and you can't sue them.


This isn’t unique to Pfizer

There’s no incentive to produce new vaccines if pharmaceutical companies think they’ll be sued every time Karen has a bad reaction to one of their products. It’s the agreement we as a society have made in order to insure the advancement of healthcare.
This post was edited on 5/4 at 12:06 pm


Jbird
Iowa Fan
In Bidenville with EthanL
Member since Oct 2012
66012 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

This isn’t unique to Pfizer
Profits are.

quote:


There’s no incentive to produce new vaccines if pharmaceutical companies think they’ll be sued every time Karen has a bad reaction to one of their products.
So you can never sue a pharma?


texashorn
Texas Fan
Member since May 2008
13122 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

Pfizer frequently points out that it opted not to take federal funds proffered by the Trump administration under Operation Warp Speed, the initiative that promoted the rapid development of Covid-19 vaccines.

I’d like to point out that former President Trump took issue with that characterization.
quote:

President Trump said on Friday that pharmaceutical giant Pfizer offered an “unfortunate misrepresentation” when the company distanced itself from Operation Warp Speed.

“Pfizer said that it was not part of Warp Speed, but that turned out to be an unfortunate misrepresentation,” Trump said in a news conference. "It was an unfortunate mistake that they made when they said that."

Trump was referring to a Pfizer executive's comments from Sunday about the development of the company's COVID-19 vaccine candidate.

“We were never part of the Warp Speed,” Kathrin Jansen, senior vice president and head of vaccine research and development at Pfizer, told the New York Times on Sunday. “We have never taken any money from the U.S. government, or from anyone.”

foxbusiness.com
This post was edited on 5/4 at 12:10 pm


Jbird
Iowa Fan
In Bidenville with EthanL
Member since Oct 2012
66012 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

I’d like to point out that former President Trump took issue with that characterization.
That's nice.


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David_DJS
Member since Aug 2005
3674 posts

re: Pfizer earned $3.5 billion on COVID vaccine in first quarter
quote:

As for the guaranteed dose thing, yeah it's beneficial for sure. However, if the trial failed, they'd have to dump all those doses and eat all the R&D costs as well.

I'm going by memory and am not pretending to be an expert. I don't follow Pfizer - but, didn't they partner up with someone that had already developed a platform for the vaccine? I seem to remember reading about how they weren't risking much at all.

I think it's pretty reasonable to take issue with the "COVID economy" - government definitely stepped in and picked winners and losers, and that meant Amazon/Pfizer made huge bank while hundreds of thousands of small and medium-sized businesses struggled. I think criticism of Pfizer (in this instance) is a general comment about the loss of the free market/competitive capitalism we all once believed in.

And don't forget, we're talking about a vaccine that a ton of us have no use for while gov't, medicine, media, etc., try to cram it down our throats.


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