January 12, 2021 Press Releases

Taxpayers to Big Pharma: You’re Welcome

WASHINGTON, D.C. — Multinational drug corporations want all the credit for the COVID-19 vaccines — but taxpayer funding is overwhelmingly responsible for the new vaccines’ creations. Now, drug companies stand to make billions in profit off of the pandemic and cash in on the public’s massive vaccine investment, Patients For Affordable Drugs says in its latest in a series on taxpayer investment in COVID-19 treatments.

“I am both a taxpayer and a blood cancer patient who is at high risk from COVID-19,” said David Mitchell, the founder of Patients For Affordable Drugs. “It gives me hope to have two vaccination options granted emergency use authorization by the FDA, and a third expected soon. But we have to remember these vaccines would not have happened so fast without the investments by taxpayers. And now drug corporations are cashing in. To pharma, I’d just like to say, ‘You’re welcome.’”

Read the full post here.

Today’s piece is the sixth in a P4AD series that outlines the investment U.S. taxpayers have made into COVID-19 treatments. In our previous blogs, we examined how drug corporations and Wall Street together push for high prices for COVID-19 treatments and vaccines developed with taxpayer support; detailed how U.S. taxpayers are fueling Moderna’s COVID-19 vaccine with nearly half a billion dollars; explained why Johnson & Johnson’s claims of selling a not-for-profit COVID-19 vaccine are more than a little misleading; demonstrated how Big Pharma only became interested in investing in vaccine development after it realized it could reap large profits; and tracked taxpayer funding flowing to drug companies for COVID-19 vaccines and treatments. Patients For Affordable Drugs does not accept contributions from any organizations that profit from the development or distribution of prescription drugs.

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January 12, 2021 Press Releases

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Patients For Affordable Drugs is the only independent national patient organization focused exclusively on achieving policy changes to lower the price of prescription drugs.