Big Pharma Is Ripping Off America
Public CitizenOct 19, 2021
AstraZeneca Buys US Vaccine Company for $1.1B
The Facts
On Tuesday, the Britain-based pharmaceutical powerhouse AstraZeneca announced that it had reached an agreement to purchase Icosavax, a US-based biopharmaceutical company developing vaccines using a protein virus-like formula.
The drugmaker struck a $1.1B deal that will allow the company to expand its vaccine and immune-therapy capabilities. AstraZeneca began this work initially in response to the COVID pandemic.
The Spin
Establishment-critical narrative
Big Pharma’s greed is spreading across the United States and the world. Greed-filled deals lead to monopolies on critical lifesaving drugs that result in greater costs for Americans while maximizing profiteering. It’s high time that Americans recognize this tragedy and call out these companies and the elected officials supporting them. This latest merger and acquisition is just the latest example of monopolization in this sector.
Pro-establishment narrative
Leading a successful pharmaceutical company is a good deed that's often punished. There are constant news stories of professionals saving lives, yet pharmaceutical companies saving millions of lives are often defamed. Companies labeled as “Big Pharma” took the lead during the COVID pandemic and got heads of governments to prepare products that have saved millions. These companies work hand-in-hand with government regulators too — mergers like this one are a boon for healthcare and consumers.
Nerd narrative
There is a 28% chance that there will be recurring virus-driven lockdowns during the period 2030-2050, according to the Metaculus prediction community.