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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The United Nations Children’s Fund (UNICEF) has reported that at least 74 children were killed in Israel’s relentless violence in the Gaza Strip during the first week of 2025, marking a grim start to the New Year for children in the besieged territory.

In a recent report released on Wednesday, UNICEF said that the fatalities occurred within just eight days, emphasizing that the lack of adequate shelter, compounded by winter weather, poses severe risks to the children in Gaza.

“For the children of Gaza, the New Year has brought more death & suffering with at least 74 children reportedly killed,” Executive Director of UNICEF Catherine Russell said, calling for an immediate ceasefire to end the violence.

She expressed deep concern over the number of children who have either been killed or have lost loved ones during the tragic beginning of the year.

Numerous fatalities have occurred during mass casualty events, including nighttime assaults in Gaza City, Khan Yunis, and al-Mawasi, which has been designated a "safe zone." The most recent attack claimed the lives of five children in al-Mawasi on Tuesday, according to UNICEF.

The situation is dire, with reports indicating that eight infants and newborns have died from hypothermia since December 26, highlighting the severe risk facing young children who are unable to regulate their body temperature amid the harsh conditions as Israel weaponizes cold against children in the Gaza strip.

“UNICEF has long warned that inadequate shelter, lack of access to nutrition and healthcare, the dire sanitary situation, and now the winter weather put the lives of all children in Gaza at risk. Newborns and children with medical conditions are especially vulnerable,” Russell emphasized.

The humanitarian crisis in Gaza has reached alarming levels. The number of aid trucks entering the region remains grossly inadequate to meet the basic needs of families, while civil order has largely unraveled, leading to the looting of humanitarian supplies.

According to UN reports, over a million children are currently living in makeshift tents, with almost all of the 2.3 million population displaced several times over the last 15 months.

Moreover, the few operational hospitals are overwhelmed, and the destruction of civilian infrastructure has severely hampered access to essential services, including food, clean water, sanitation, and healthcare.

Kamal Adwan Hospital, previously the only functioning medical facility in northern Gaza with a pediatric unit, has ceased operations following a raid last month, exacerbating the already critical healthcare situation.

A recent report from the Palestinian Central Bureau of Statistics noted a 6% decline in Gaza's population in 2024, indicating that Israeli forces are intentionally targeting specific demographic groups, such as children and youth, resulting in a significant “distortion of the population.”

Since the onset of the genocide, Israel has killed 45,936 Palestinians, including over 17,600 children, as reported by the Health Ministry in Gaza, indicating a tragic loss of one child approximately every hour.

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News Network
December 26,2024

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The UN agency for Palestinian refugees (UNRWA) says the northern part of the Gaza Strip has been going through “the hell of the hell" amid Israel's bombing campaign on civilian facilities and blockade of aid for almost three months.

In an interview with Irish state media RTE on Wednesday, UNRWA Communications Director Juliette Touma said northern Gaza has witnessed “heavy, heavy bombardment," as well as loss of life among civilians and attacks on hospitals and shelters.

She was also asked about the situation in the Kamal Adwan hospital, which is still barely functioning in northern Gaza despite an Israeli order to shut down and evacuate.

Touma said the evacuation orders of medical centers and raids on them "have become commonplace in Gaza" since last October, when Israel unleashed its genocidal war on the Palestinian territory.

“We shouldn’t become numb, though, to the fact that this happens all the time. Because, at the end of the day, this is a violation of international law," she added.

"This is crossing a very thick red line and way too many times the rules of war have been broken in Gaza, and those responsible must be held accountable."

Over the past few months, Israel has used tanks, snipers and quadcopters to attack the Kamal Adwan hospital, where over 400 civilians have sought medical care and shelter.

On Wednesday, Physicians for Human Rights - Israel (PHRI), an Israeli NGO that advocates for medical rights, filed an urgent petition with the regime's top court to end the ongoing attacks on the Kamal Adwan hospital.

The petition calls for the establishment of a humanitarian corridor to deliver medical supplies, fuel, and for the safe evacuation of patients and staff.

“The relentless attacks on Kamal Adwan hospital have caused catastrophic harm to medical infrastructure, claimed the lives of patients and staff, and denied access to essential healthcare services," it said.

"Under international law, Israel is obligated to protect the safety and security of patients, medical personnel, and healthcare facilities—even in times of conflict.”

Israel launched its brutal Gaza onslaught on October 7, 2023, after the Palestinian Hamas resistance group carried out a historic operation against the usurping entity in retaliation for its intensified atrocities against the Palestinian people.

So far, the occupying regime has killed at least 45,361 Palestinians, mostly women and children, and injured 107,803 others, in Gaza. 

Since early October, Israel has intensified its attacks in the northern Gaza Strip, cut the area off from the rest of the territory, and blocked nearly all food aid from entering the region.

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News Network
January 7,2025

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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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