Drug Companies Took None of the Risks to Develop the COVID-19 Vaccine. They’re Getting All of the Profits.

Stephen Buranyi

The US public poured billions of dollars into developing a COVID-19 vaccine, yet drug companies are reaping the profits and jealously guarding the intellectual property from poor countries. Let the drug companies cry: we should release the vaccines immediately.

COVID-19 Cremation In Jaipur

Relatives perform last rites during the cremation of a family member who died from COVID-19, on April 27, 2021 at Adarsh Nagar Moksha Dham in Jaipur, Rajasthan, India. (Vishal Bhatnagar / NurPhoto via Getty Images)


During the earliest months of the coronavirus pandemic, world leaders and corporate executives alike embraced the rhetoric of social solidarity, often drawing on nostalgic memories of war efforts past and common sacrifice in the face of adversity. That rhetoric, to put it mildly, did not realize itself in the form of policy: the pandemic has disproportionately hit the most vulnerable while billionaires have made a killing.

Despite early suggestions that the knowledge and expertise required for mass production of vaccines would be widely shared, private industry has maintained control thanks to restrictive intellectual property laws designed to protect its profits — the result being a slowed rollout that puts private wealth ahead of human need, even as pharma companies reap the benefits from public subsidies and publicly funded scientific research.

Stephen Buranyi is a science journalist living in London and a former researcher in immunology who has written on vaccine politics and production for the Guardian, the New York Times, and Prospect magazine. Jacobin spoke with Buranyi about the moral and political failure that is the global pandemic response, the history of patent sharing in the fight against disease, and why Bill Gates is always wrong.

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