Activists argue that with large profits Big Pharma companies can afford to be more flexible around Intellectual Property, which they believe could ultimately spur broader production and accessibility in a future pandemic.
Twenty of the world’s largest pharmaceutical companies made payouts to their executives and shareholders that almost equaled the money they spent on research and development between 2020 and 2022, according to a new analysis that the People’s Vaccine Alliance released ahead of this week’s World Health Summit in Berlin.
Using data from SOMO, a Dutch research agency, the alliance calculated that the 20 companies spent $377.5 billion on payouts in the form of executive compensation, distributing dividends, and buying back shares over the three years, compared to $414.6 billion spent on research and development during the COVID-19 pandemic.
