![]() ![]() But many question if the balance of power has tipped too far in Pfizer’s favour. They are all grateful for a safe and effective vaccine. The Financial Times has spoken to more than 60 people involved in the vaccine process, including current and former Pfizer employees and government officials across the globe, to lift the veil on how the company that has contributed so much to saving the world from Covid has also ensured it is such a lucrative business. “With more than 2bn doses delivered to date, our vaccine has saved millions of lives worldwide,” the spokesperson said. Instead, the company responded through a spokesperson who said Pfizer is “immensely proud” of its accomplishment. No Pfizer executive agreed to be interviewed for this story. How Pfizer wields this newfound power - and what it plans to do next - is treated as top secret, as the vaccine maker blacks out large chunks of contracts and binds even independent scientists with non-disclosure agreements. “No one is safe until everyone is safe,” says Seth Berkley, chief executive of Gavi, the UN-backed vaccines alliance. ![]() Although its origins are still unclear, scientists have long warned that new variants are more likely if large parts of the world remain unvaccinated. The danger of such an unequal rollout has been underlined by the emergence of the new and potentially dangerous Omicron variant. In October, Pfizer had 80 per cent market share for Covid vaccines in the EU and 74 per cent in the US. ![]() Pfizer’s ability to dramatically expand production has made it by far the most dominant vaccine maker. Pfizer forecasts sales of the vaccine will hit $36bn in 2021, at least double those of its closest rival Moderna. Now, the US drugmaker is behind the pharmaceutical product with the record for sales in a single year. For years, its most famous product was Viagra for erectile dysfunction. In July 2018, Bourla’s predecessor was forced to abandon price hikes after being publicly shamed on Twitter by former US president Donald Trump. The vaccine has transformed Pfizer’s political influence. But when it has come to medical solutions to the pandemic, governments have been almost completely dependent on private companies. The pandemic has ushered in a massive expansion in the power of the state - from the war-footing in economic policy to forcing people to stay in their own homes. They eventually received some doses from an initiative run by the Biden administration. Infuriated, Masiyiwa wrote a “very heavily worded protest” to Bourla in which he asked what was causing the delay. In May, he watched as the EU struck a huge contract for up to 1.8bn doses. ![]()
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