Lack of Transparency in Public Funding for COVID-19 Vaccines

A scathing report by the European Federation of Public Service Unions (EPSU) reveals that pharmaceutical companies received over $100 billion in public funds and advance purchase agreements (APAs) during the pandemic, with minimal accountability. Pfizer, BioNTech, and Moderna alone secured $32 billion in government grants and $74 billion in APAs, yet their contracts lacked clauses requiring affordable pricing or technology sharing.

“Taxpayers bankrolled these vaccines, but corporations reaped the rewards,” said EPSU spokesperson Clare Joy. “Pfizer’s $35 billion net profit from COVID-19 products is a slap in the face to public health systems struggling to afford doses.” The report notes that Moderna raised its vaccine price by 73% between 2021 and 2023, while Pfizer hiked costs by 56%, despite production efficiencies reducing manufacturing expenses.

Campaigners demand retroactive conditions on public funding, including profit caps and mandatory licensing. “Public money should come with strings attached,” said Margarida Silva of Corporate Europe Observatory. “Without binding rules, we’re just subsidizing shareholder dividends.” The European Parliament is now debating legislation to enforce transparency in public-private health partnerships, but critics argue progress is too slow to prevent future profiteering.