Coronavirus vaccines have spawned 9 new billionaires
Profits from Covid-19 jabs have helped at least nine people become billionaires, a campaign group said Thursday, calling for an end to pharmaceutical corporations' "monopoly control" on vaccine technology, NDTV reports. Between them, the nine new billionaires have a combined net wealth of $19.3 billion (15.8 billion euros), enough to fully vaccinate all people in low-income countries 1.3 times," The People's Vaccine Alliance said in a statement.
The alliance, a network of organisations and activists campaigning for an end to property rights and patents for inoculations, said its figures were based on the Forbes Rich List data.
"These billionaires are the human face of the huge profits many pharmaceutical corporations are making from the monopoly they hold on these vaccines," said Anna Marriott from charity Oxfam, which is part of the alliance.
In addition to the new mega-rich, eight existing billionaires have seen their combined wealth increase by $32.2 billion thanks to the vaccine rollout, the alliance said.
Topping the list of new vaccine billionaires were the CEO of Moderna Stephane Bancel, and his BioNTech counterpart Ugur Sahin.Three other neo-billionaires are co-founders of the Chinese vaccine company CanSino Biologics.
The research comes ahead of the G20 Global Health Summit on Friday, which has been a lightning rod for growing calls to temporarily remove intellectual property protections on Covid-19 vaccines.
Proponents say doing so would boost production in developing countries and address the dramatic inequity in access. The United States, as well as influential figures like Pope Francis, back the idea of a global waiver on patent protections.