20 October 2009

The business aspect of swine flu

Drug companies have sold $1.5 billion worth of swine flu shots, in addition to the $1 billion for seasonal flu they booked earlier this year. These inoculations are part of a much wider and rapidly growing $20 billion global vaccine market. "The vaccine market is booming... It's an enormous growth area for pharmaceuticals at a time when other areas are not doing so well..."

As always with pandemic flus, taxpayers are footing the $1.5 billion check for the 250 million swine flu vaccines that the government has ordered so far and will be distributing free to doctors, pharmacies and schools. In addition, Congress has set aside more than $10 billion this year to research flu viruses, monitor H1N1's progress and educate the public about prevention.

Drugmakers pocket most of the revenues from flu sales...

Doctors collect copayments for special office visits to inject shots, and there have been assertions that these doctors actually profit handsomely from these vaccinations. It is a notion that Dr. Lori Heim, president of the American Academy of Family Practitioners, says is simply not true...

Even companies outside of the medical industry are benefiting: the UPS division that delivers vaccines in specially designed containers, for example, has seen a bump in business...

The promise of profits has attracted new players into the business. Some of the world's largest drugmakers, who in the past avoided the vaccine market because of its limited scope -- its not easy to convince healthy adults to get a shot for measles -- are now jumping into the fray...
Further details at ABC News.

3 comments:

  1. What about the business aspect of sickness in general. Should our health care be rationed by a system whereby there is a profit motive in denying care?

    ReplyDelete
  2. And a corollary: Should our foreign policy be conducted by a system whereby there is a profit motive in conducting war?

    ReplyDelete
  3. My prediction: All the fearmongering about H1N1 will result in people panicking and getting shots and upping the stock price for Johnson and Johnson (makers of Purell), but the swine flu will be the same proportion epidemic as SARS. Remember SARS? It was set to wipe out the world....

    ReplyDelete

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