'We take on the risk. They take away the profits,' said one vaccine equity advocate.
May 6, 2022
The Massachusetts-based pharmaceutical giant Moderna disclosed in a financial filing this week that it received another $300 million in U.S. government funding for coronavirus vaccine development in March even as the company hoarded its technology from the world—and attempted to"The corporation must give it back by sharing the tech with others and make this vaccine available to everyone, everywhere."to the U.S.
"The maximum award from [the Biomedical Advanced Research and Development Authority], inclusive of the 2020, 2021, and 2022 amendments, was approximately $1.7 billion," the filing reads."All contract options have been exercised. As of March 31, 2022, the remaining available funding, net of revenue earned was $378 million."
Zain Rizvi, a researcher with Public Citizen's Access to Medicines program, called the sum of public funding that has flowed to Moderna"staggering."Wednesday that it sold $5.9 billion worth of its Covid-19 vaccine in the first quarter of 2022, far surpassing analysts' revenue and profit expectations and briefly sending the company's stock price soaring.
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