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Omicron variant made $10 billion in a week for top eight Moderna and Pfizer shareholders

Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with just eight top Pfizer and Moderna shareholders adding a combined $10.31 billion to their fortunes. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions for the Omicron variant to emerge.

They are calling on governments to support a waiver of intellectual property rules on Covid-19 vaccines and treatments to allow low and middle-income countries to manufacture jabs for themselves, breaking big pharma monopolies and increasing overall supplies.

Moderna’s shares skyrocketed after the announcement and settled at $310.61/share on Wednesday 1 December, up 13.61% from $273.39/share since Wednesday 24 November, the day before

— source globaljustice.org.uk | 7 Dec 2021

Nullius in verba


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