Pandemic business: Covid vaccines create nine new billionaires

News Network
May 20, 2021

Paris, May 20: 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.

"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 neobillionaires 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.

At a Paris summit seeking to boost financing in Africa amid the pandemic on Tuesday, French President Emmanuel Macron called for the removal of "all these constraints in terms of intellectual property which blocks the production of certain types of vaccines".

The European Commission said Wednesday it would be a "constructive" voice in WTO talks on the issue.

"The highly effective vaccines we have are thanks to massive amounts of taxpayers' money so it can't be fair that private individuals are cashing in while hundreds of millions face second and third waves completely unprotected," said Heidi Chow, Senior Policy and Campaigns Manager at Global Justice Now, which helped analyse the billionaire data.

"As thousands of people die each day in India, it is utterly repugnant... to put the interests of the billionaire owners of Big Pharma ahead of the desperate needs of millions," she added.

Manufacturers have stressed that patent protection is not the limiting factor in ramping up vaccine production.

They say a wide range of issues -- from the set up of manufacturing sites, to the sourcing of raw materials, to the availability of qualified personnel -- are holding up the manufacturing process.

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News Network
January 7,2025

firewestbank.jpg

Israeli settlers shielded by the occupation troops have stormed several villages in the West Bank, setting Palestinian homes, farms and vehicles on fire.

Palestinian media reported that the violent settler attacks took place on Monday night in the villages of Turmus Ayya, Tuqu', Hajjah, Fara'ata, al-Funduq and Immatain.

Prior to the raids, far-right Israeli social media groups had posted messages calling on members to join in on rampages against Palestinian villages.

The attacks took place although Israeli rights groups had demanded preventative actions by the regime's authorities.

“Once again, the army is doing nothing to prevent settler violence. This time, too, the writing was on the wall, and notices calling for riots in the villages were distributed publicly among settlers,” the Yesh Din right group said.

Settler violence has escalated significantly since October 7, 2023, when Israel unleashed a genocidal war on the Gaza Strip.

So far, the Tel Aviv regime has killed at least 45,854 Palestinians, mostly women and children, and injured 109,139 others, in its brutal Gaza onslaught. 

Israel confiscates more Palestinian land

Separately on Monday, the Wafa news agency reported that Israeli authorities had seized 262,000 square meters of Palestinian land in Jaba’, al-Ram, Kafr 'Aqab, and Mukhmas, all situated in the al-Quds governorate.

Israeli human rights organization Ir Amim said that the occupying regime is seeking to annex the confiscated area to the illegal Geva Binyamin settlement.

More than 600,000 Israelis live in over 230 settlements built since the 1967 Israeli occupation of the West Bank and East al-Quds.

While all Israeli settlements are illegal under international law, Israel keeps expanding them in blatant violation of United Nations Security Council resolutions.

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News Network
January 9,2025

Udupi: In a shocking case of cyber fraud, a 38-year-old woman from Karkala in Udupi district, has reportedly lost Rs 24 lakh to a digital arrest scam. The victim, Preema Sheril D'Souza, fell prey to a fraudulent scheme orchestrated through fake calls and threats.

According to the complaint filed, the incident unfolded on Tuesday when Preema received a call at 12:30 pm from an individual claiming to represent the Delhi Telecom Department. The caller alleged that another SIM card had been purchased using her Aadhaar number and was being used for illegal activities in Uttar Pradesh, leading to multiple cases being registered against her.

To add credibility to the scam, the caller arranged a video call where a person dressed as a police officer introduced himself as a CBI official. This individual instructed her to cooperate with the "investigation" and warned her not to disclose the matter to anyone. The scammer also issued threats, claiming that harm would come to her husband and child if she failed to comply.

Under duress, Preema was coerced into sharing her bank account details and transferring a staggering Rs 24 lakh to accounts specified by the fraudsters. She transferred Rs 14 lakh to an account in Federal Bank and Rs 10 lakh to an account in Yes Bank via RTGS from her Fixed Deposit account. The threats of an arrest warrant further pressured her into complying with the scammers' demands.

Upon realizing the fraud, she reported the incident to the authorities. A case has since been registered at the Karkala Rural Police Station, and investigations are underway.

This incident serves as a critical reminder to stay vigilant against such scams. Individuals are advised to verify the identity of callers and refrain from sharing sensitive information or transferring money without proper authentication. If you encounter similar fraudulent activities, report them immediately to the police or cybercrime cell.

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News Network
January 4,2025

Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta met Union Home Minister Amit Shah in New Delhi on Friday to discuss key issues affecting the security and development of the region. The meeting highlighted several urgent concerns, ranging from counter-terrorism measures to infrastructure upgrades.

During the meeting, Chowta strongly advocated for establishing a National Investigation Agency (NIA) Centre in Mangaluru. He pointed out the city’s vulnerability to threats such as Islamic radicalisation, sleeper cells, and the activities of groups like SDPI and PFI. Citing the unrest during the Citizenship Amendment Act (CAA) protests, Chowta emphasized the ability of radical groups to incite large-scale disruptions. He argued that Mangaluru’s strategic coastal location necessitates an NIA Centre to bolster counter-terrorism operations and ensure regional security.

Chowta also discussed the Indian Coast Guard Academy, sanctioned for Mangaluru in 2020. He highlighted its potential to enhance India’s maritime security through advanced training in coastal defence, disaster response, and surveillance. Situated near the Arabian Sea and Mangalore Port, the academy is strategically positioned to address challenges in regions like Lakshadweep and the Maldives, aligning with India’s geostrategic interests.

The MP proposed the establishment of a Sainik School in Mangaluru to nurture leadership, discipline, and patriotism among local youth. He emphasized that such an institution would not only provide quality education but also act as a feeder for the armed forces, enhancing the region’s defence readiness. Chowta suggested pairing the school with a military installation, further strengthening coastal defence capabilities and supporting national security goals.

Addressing infrastructure, Chowta underscored the need to improve the Mangaluru-Bengaluru railway and road networks. He argued that enhanced connectivity would unlock the region’s economic potential, streamline logistics for New Mangalore Port, and support key industries such as fisheries, agriculture, and manufacturing. Additionally, upgraded infrastructure would boost trade, tourism, and employment opportunities.

On economic development, Chowta urged the revival of cooperative banks under the Ministry of Cooperatives. He proposed increased funding and loan facilities for businesses and farmers to enhance financial inclusion and regional economic stability. Strengthening fisheries cooperatives, he noted, would provide local fishermen with better access to financial services, loans, and insurance, improving productivity and security.

The MP’s discussions reflected a comprehensive vision for balancing security, infrastructure, and economic growth in Dakshina Kannada, aligning with both regional and national priorities.

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