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 9,2025

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Who will be the next captain of the Indian cricket team? After India's 1-3 loss in the Border-Gavaskar Trophy, this question has become the hottest topic in Indian cricket circles. Current skipper Rohit Sharma, despite stepping aside for the final Test, has confidently declared that he is not stepping down as captain. However, with India not playing another Test until June (in England), questions loom over whether the BCCI selectors will retain Rohit for the next World Test Championship cycle.

Amid the debate, former Indian cricketer Mohammad Kaif has cautioned against appointing star pacer Jasprit Bumrah as the full-time captain. Kaif emphasized that Bumrah’s primary focus should remain on taking wickets and maintaining his fitness. “BCCI should think twice before appointing Bumrah as a full-time captain. He needs to solely focus on taking wickets and staying fit. Added leadership responsibility and heat-of-the-moment decisions can lead to injuries and shorten an outstanding career. Don’t kill the golden goose,” Kaif posted on X (formerly Twitter).

However, legendary Indian batter Sunil Gavaskar has offered a contrasting perspective. Gavaskar recently expressed confidence in Bumrah’s ability to lead the Indian Test team in the near future. Speaking on Channel Seven, Gavaskar praised Bumrah’s calm demeanor and leadership qualities. “He will be the next man because he leads from the front. He has an aura of leadership but doesn’t pressurize players. Some captains put undue pressure on their teammates, but Bumrah allows others to perform their roles without micromanagement,” Gavaskar remarked.

Bumrah showcased his leadership skills during the Border-Gavaskar Trophy, where he captained India in two Tests, including the series-opening match in Perth, which India lost by 295 runs. Despite the series defeat, Bumrah’s individual performance stood out. He claimed 32 wickets in five matches at an impressive average of 13.06 and a strike rate of 28.37, earning him the Player of the Series award.

Gavaskar highlighted Bumrah’s brilliant handling of the fast-bowling unit, often seen guiding them from mid-off or mid-on. “With the fast bowlers, he’s been absolutely brilliant. He’s always at hand to provide advice without overwhelming them. I wouldn’t be surprised if he takes over the captaincy very soon,” Gavaskar added.

India’s bowling attack, however, suffered in crucial moments during the series. In the Sydney Test, Bumrah’s absence in the fourth innings due to a back spasm proved costly. India was defending a modest target of 162 but lacked the firepower to challenge Australia’s batting lineup. Gavaskar lamented Bumrah’s unavailability, noting the impact he could have had. “What a difference it would have made if Bumrah was available to bowl in that final innings. Even an early spell of four or five overs could have turned the match in India’s favor,” he observed.

As India gears up for its next phase in Test cricket, the debate over captaincy intensifies. While some caution against burdening Bumrah with added responsibility, others see his leadership as a natural progression for the team’s future.

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News Network
January 1,2025

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The bustling coastal city of Mangaluru ushered in 2025 with a blend of joy, prayers, and festivities, leaving behind a memorable farewell to 2024. The celebrations were a harmonious mix of cultural, recreational, and spiritual activities, reflecting the city’s rich diversity and warmth.

From the early hours of the evening, families and friends thronged popular eateries, beaches, malls, and public spaces, immersing themselves in the festive atmosphere. Restaurants and pubs across the city hosted live performances and curated special events to amplify the New Year cheer. Music, dance, and spectacular fireworks lit up the night sky, creating an electrifying ambiance as Mangaluru welcomed 2025 with open arms.

Ensuring safety and order, Mangaluru city police intensified security measures throughout the city. With 103 picket points and 19 barricade locations in place, the police maintained strict vigilance, monitoring vehicle movements and preventing any untoward incidents. The celebrations were largely peaceful, thanks to the robust security arrangements.

Beaches like Tannirbhavi and Panambur were hotspots of activity, attracting large crowds eager to witness the last sunset of 2024. Beachside resorts reported full occupancy, with many organizing exclusive parties and recreational activities. Meanwhile, religious destinations in the Dakshina Kannada district saw a significant influx of devotees. Sri Kshetra Dharmasthala and other prominent temples, including Kukke Sri Subrahmanya and Kateel Sri Durgaparameshwari, witnessed a steady stream of visitors offering prayers and seeking blessings for the New Year.

At Kudroli Sri Gokarnanatha Temple, special rituals are scheduled to begin at 5:30 am on Wednesday, culminating in a grand rathotsava at 6:00 am, according to Padmaraj R. Poojary, treasurer of the temple management committee.

In a heartwarming gesture, several organizations and NGOs extended their celebrations to orphanages and old age homes, organizing events to spread joy among the less fortunate.

As the city steps into 2025, Mangaluru’s vibrant celebrations, coupled with its commitment to safety and inclusivity, set the tone for a promising year ahead.
 

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News Network
January 1,2025

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New Delhi: In a jibe at AAP supremo Arvind Kejriwal on Wednesday, Delhi BJP chief Virendra Sachdeva urged him to give up what he said were the former CM's "deceitful and dishonest" political practices as a new year resolve.

The dig at Kejriwal comes in response to his letter to RSS head Mohan Bhagwat in which he has accused the BJP of "openly" distributing money and trying to get Puravanchali and Dalit voters deleted from Delhi's electoral rolls ahead of the assembly polls.

Sachdeva extended Kejriwal new year greetings in his letter and said since childhood we all make resolutions on New Year's day to give up bad habits and start something good and new.

The Delhi BJP president said he hoped that, on the first day of 2025, Kejriwal would strive to bring meaningful change by abandoning "dishonest and deceitful political practices".

As part of his New Year's resolution, Kejriwal should resolve to "never to swear in the name of his children", and "apologise for promoting liquor" and "making false assurances" of cleaning Yamuna, Sachdeva said.

He also said he hoped the AAP chief would stop "playing with the sentiments" of Delhi's women, elders, and religious communities by making "false promises" and will not "associate with or accept donations" from "anti-national forces" for political gains.

"May God give you the strength to walk on the path of righteousness," Sachdeva said concluding the letter.

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