Free market—making money off your own efforts. What’s not to like?
It’s not everywhere that people can have great ideas, work hard and the sky’s the limit.
Recently I have been a little puzzled by the number of times I’ve heard that the pharmaceutical companies don’t make money on vaccines. Does that seem unrealistic to you?
So, let’s just take a gander at Moderna’s own digital messages on their first quarter earnings.
“Revenue: Total revenue was $1.9 billion for the three months ended March 31, 2021 compared to $8 million for the same period in 2020. Total revenue increased in the first quarter of 2021, resulting from a full quarter of commercial sales of the Company’s COVID-19 vaccine in the U.S. and an initial ramp up of international sales. . . .”
Selling, General and Administrative Expenses: Selling, general and administrative expenses were $77 million for the three months ended March 31, 2021 compared to $24 million for the same period in 2020. . . .
Net Income (Loss): Net income was $1.2 billion for the three months ended March 31, 2021 compared to a net loss of $(124) million for the same period in 2020. . . .
Cash Position: Cash, cash equivalents and investments as of March 31, 2021 and December 31, 2020 were $8.2 billion and $5.2 billion, respectively. . . .”
For a full report visit See: Moderna Reports 1st Quarter Earnings
Don’t misunderstand. I am thrilled for companies to make money. But don’t act as if you are doing the world this huge favor by producing vaccinations in large quantities and using all the free marketing and coercive campaigns from governments around the world. After all, not only do companies make money from vaccinations, but they are also immune from any liability from adverse reactions and death.
I wonder if vaccines are mandatory for employees at Moderna.
Perhaps Moderna shares the wealth with their employees!
Now that you know Moderna is profiting substantially from the free vaccines you are receiving, do you think they’ll stop insisting we get vaccinated over and over again?
These are topics for another day.
For now: Go get a piece of capitalism today and wear it in good health!