It’s the most expensive “free” shot of all time.
Pfizer’s Q2 earnings numbers parallel that of a top 5 global energy company. Of course, the slight difference here is that energy companies actually provide essential services for human flourishing, while Pfizer provides, well, government-backed snake oil.
— Reuters (@Reuters) July 28, 2022
This quarter, the drug company posted a total revenue of $27.7 billion, up 46.5% from $18.9 billion the same period of last year.
Net income is up 78% to $9.9 billion this quarter, from $5.5 billion in Q2 of 2021.
While many Americans are struggling to put food on the table, Pfizer’s taxpayer-supplied profits almost doubled year over year.
— Morocco News (@Morocco_News_) July 29, 2022
Notably, none of Pfizer’s profits come from free market activity.
More than half of all Pfizer sales, and all of its profits, come from its expired mRNA gene therapy injections and Paxlovid. The outfit has fully transformed into a COVID-19 company. Without COVID Mania, the rest of Pfizer’s product line would see the pharma giant without any income this year.
Business is booming for the taxpayer-funded, liability-free drug company. Just last month, the Biden Administration signed a deal with Pfizer that hiked the price of more than 50% extra per dose for Pfizer’s next batch of mRNA shots.