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this post was submitted on 21 Oct 2023
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The government did not for Pfizer. That was Moderns. Pfizer did spend billions of their own cash. This move is largely because the executive leadership way overestimated the amount of covid vaccine and drug treatment revenue for this year, and they are desperate to make up ground.
So they are raising prices and cutting across the board rather than admitting they didn't know what they were doing in their projections. CEO isn't taking a pay cut though. Morons got a winning lottery ticket in the pandemic and assumed they'd keep winning every year.