The old myth of the huge Big Pharma vaccine profits – it’s the subject of so many memes, tropes, and outright lies from the anti-vaccine activists. These vaccine deniers, who not only lack knowledge of science but also of basic corporate finance, believe that every Big Pharma CEO relies on vaccines for their next bonus check, which they use to buy their new Ferrari to show off to imaginary vaccine-injured children.
I am not naive – public corporations have an obligation to their shareholders and employees to maximize profits. That’s capitalism, I suppose.
But where this trope goes off the rails is when you realize that vaccine profits would be eclipsed by medical industry profits if Big Pharma simply stopped producing vaccines – mass epidemics would mean that hospitals would be filled with patients, just look at the COVID-19 pandemic. It’s ironic that the anti-vaxxers claim that Big Pharma’s greed gives us vaccines, but if they were truly greedy they’d be out of the vaccine business.
This article is not going to be as much science as I usually do – it’s going to focus on finance and accounting. Yes, I’m a finance and accounting geek as much as I am a science aficionado.
Now, it’s clear that human nature is such that when one takes a position, say on vaccines, they kind of lock in on it, despite the evidence. And the vast majority of unbiased, non-cherry-picked evidence leads to only one simple conclusion – vaccines are relatively safe and effective. A truly open-minded person, say a scaly extinct dinosaur, examines and re-examines their position in light of all of the evidence.
But it’s not just science where the anti-vaccine crowd gets it all wrong. I’ve written before about vaccine profits – if Big Pharma were as evil and nefarious as the science deniers claim, then vaccines would slowly disappear from the market. Why? Because the industry would make boatloads more money selling everything else to hospitals and physicians to treat long-disappeared vaccine-preventable diseases.
And there’s more. I completely overlooked the major problem with huge epidemics, which don’t exist today – there are insufficient hospital beds in all developed countries (and it goes without saying, it’s worse in poorer countries) to care for the hundreds of thousands or millions of kids who get sick. Every new bed in a hospital probably sends $1 million in revenues to Big Pharma (or more broadly Big Medical, which includes devices, equipment, and other products). The windfall to Big Medical/Big Pharma would be so huge that if ending vaccination were a real thing, I’d be going long in Big Pharma stocks, and waiting for the delivery of my brand new shiny Ferrari.
Related to the ignorant anti-vaccine education on Big Pharma profits, their utter lack of understanding about personal finance and investing is almost laughable. Especially, since it’s one of their core ad hominem attacks on several pro-science writers. Let’s look at one.
One of the ongoing memes, tropes and fabrications of the vaccine deniers is somehow, somewhere, in some Big Pharma boardroom, a group of men and women in suits choose the next vaccine in some magical way, and foist it upon the world just to make billions of dollars. And while magically concocting the vaccine brew, these pharmaceutical execs ignore ethics and morals just to make excessive vaccine profits from hapless vaccine-injured victims worldwide.
The Big Pharma vaccine profits conspiracy trope ranges across the junk medicine world. Homeopathy, for example, claims that Big Pharma suppresses the data that shows water cures all diseases. Like Ebola.