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Pfizer says it will price Covid treatment Paxlovid at nearly $1,400 for a five-day course, which researchers estimate only costs Pfizer $13 to produce.
That's a 10,000%+ markup. Shameful.
In 2020, their revenue was about $40B on $8.5B in R&D cost. They had a huge revenue increase the last few years, with 2022 being $100B, but R&D only increased to about $11B.
So they do have R&D, but it’s not that big compared to the money they’re bringing in. Their net income has increased substantially, as well.
I’m always curious about the actual numbers. Here’s their R&D budget by year:
https://www.statista.com/statistics/267810/expenditure-on-research-and-development-at-pfizer-since-2006/
And their overall revenue:
https://www.pfizer.com/sites/default/files/investors/financial_reports/annual_reports/2022/performance/
In 2020, their revenue was about $40B on $8.5B in R&D cost. They had a huge revenue increase the last few years, with 2022 being $100B, but R&D only increased to about $11B.
So they do have R&D, but it’s not that big compared to the money they’re bringing in. Their net income has increased substantially, as well.