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Pfizer Sinks $100 Billion in COVID Profits Into Developing — and Marketing — More Drugs

By Kaiser Health News

 

Pfizer reaped nearly $100 billion from selling COVID-19 vaccines and treatments to U.S. taxpayers and foreign governments — now it plans to get richer, sinking the cash into developing and marketing lucrative drugs for everything from obesity to migraines.

By Arthur Allen

For drugmaker Pfizer, a fortune amassed in the COVID-19 pandemic is now paving the path to pharma nirvana: a weight loss pill worth billions.

The company has reaped nearly $100 billion from selling COVID-19 vaccines and treatments to U.S. taxpayers and foreign governments.

With that windfall, it plans to get richer, sinking the cash into developing and marketing potential blockbusters for conditions like migraines, ulcerative colitis, prostate cancer, sickle cell disease and obesity.

It just announced it will triple or even quadruple the price of its COVID-19 vaccine once it goes on the commercial market next year. Meanwhile, the company is inundating doctors and pharmacists — and consumers — with advertising touting its COVID-19 drug Paxlovid.

 

 

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