NEW: Pfizer expects $15bn of sales of the Biontech COVID-19 vaccine this year - a quarter of total 2021 sales - margin before tax in “high 20s” %... 50% gross margins split with Biontech. supplying 40m doses to low income countries via Covax at cost price... 
...rather puts into context fact that Astra Zeneca & Oxford provided its vaccine at cost price to Eu and world (and that is defined in the famous contract released on Friday)..
effectively Biontech alone will gain in revenue much more than EU spending on its vaccine programme...
effectively Biontech alone will gain in revenue much more than EU spending on its vaccine programme...
It’s not a perfect analogy, but effectively what the UK did was block its version of Biontech doing a deal with US pharma co, and matchmaked a UK company on condition of first dibs on vaccines and cost pricing..UK Gov was more dirigiste or strategic here, growing supply. EU not.
See interest thread eg here from former VDL rival/ ex Finnish PM - EU focussed on internal solidarity and sharing the pie - must be a source of frustration at least in Germany that they did not make first use of Biontech innovation (partially funded by EIB)...
https://twitter.com/alexstubb/status/1356551909897863170
None of which is to downplay importance of profit motive - even with these profits $15bn of Pfizer vaccines more than pay for themselves in terms of economic effect. AZ vaccine is cost price during the pandemic.
Clear there’ll be many billions more spent on recurrent basis now.
Clear there’ll be many billions more spent on recurrent basis now.
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