How COVID-19 Made Big Pharma Rich
Government-enforced lockdowns have not been bad news for everybody
The covid-19 pandemic has decimated the United States economy. Economists have estimated the pandemic’s cost at a staggering $16 trillion. Some 80 percent of small-business owners say lockdowns have hurt their bottom line. But even as government-imposed lockdowns force small-business owners to shutter their shops, Big Tech and big pharma are making record profits.
With more people working remotely, staying home, surfing the Internet, and shopping online, Apple, Microsoft and Google have more than doubled their collective value since the pandemic began. And with the government pressuring people to get vaccinated, Merck, Moderna, Sanofi, Pfizer and Johnson & Johnson will likely split $100 billion in sales and $40 billion in profits between them.
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