 Let's talk a little bit about vaccine profits because it appears that Pfizer and BioNTech are going to, and Moderna are going to actually attain substantial significant large profits. What's interesting is that Pfizer refused the Trump administration's money last year, and they basically said part of the strings attached with the money was that if you get the money from the government, then when you sell the vaccine, you sell it at break-even, right? So the government's going to give you the money upfront, you're taking a risk, and I can't remember for how long you're not supposed to make a profit, but for a while you're supposed to not make any money on the vaccine, and that was supposed to be part of the requirements, part of the conditions under which you got the billions of dollars that the Trump administration was handing out to everybody. Pfizer, Moderna took a little bit, it took a little bit, but it didn't take the full amount, and it refused to commit to not, to selling this at basically non-profit rates. Ian Millcatch says, if you don't support the show, the left wins. Yeah, I mean, they might win even if you do support the show, but they certainly will win if you don't support the show. Thank you, Ian Millcatch. So Moderna said, okay, we'll take some money, right, but we're not going to take all of it because we want to make a profit of this. If we produce a good drug, if it's successful, we want to be able to make a profit. Pfizer, on the other hand, said, we don't want your money, don't give us your money. If you want to pay for doses, that's fine, but we're not going to take your money, and we are going to, we only want to get paid if the vaccine is successful. We only want to get paid when you buy the vaccine from us, and we want to make a profit, and that's exactly what happened. So Pfizer didn't take money from, I forget the name of the program that the Trump administration put in place, and they are making huge profits, right? Pfizer has told shareholders that it anticipates receiving about $33.5 billion in revenue this year from its COVID-19 vaccine. On a pre-tax adjusted profit margin is supposed to be in the high 20s. That would give them somewhere between $7 to $10 billion a profit, $7 to $10 billion a profit. That is a pretty good profit. That doesn't include boosters. Boosters could bring in about $26 billion more for both Pfizer-BioNTech who split the proceeds if they're approved for all Americans. This translates to about $9 billion in Pfizer profits, and maybe as much as $20 billion next year in profits, and just probably $7 billion in profits just from the boosters, and these are speculatory numbers, they could be much larger. BioNTech, the small startup in Germany started by the children of Turkish immigrants in Germany that really did the science behind the Pfizer vaccine. They are reporting $3.9 billion euros of profits for the first half, just the first half of 2021. That is huge for a small company like that and massive, and they expect much higher sales next year and therefore much larger profits. That's about $4.5 billion of profits for BioNTech, which just think about a small company, what that means for them or what that means to the founders of that company. They must be now probably among the richest people in Germany, partially because they sold their previous company. This is the second company they've started. This is a husband and wife couple. They sold their previous company for I think $1.5 billion before, so they were already wealthy before this even started, and so it truly is amazing. Not only are we going to see Pfizer, BioNTech, Moderna have unbelievable profits this year, next year, but really while the profits will decline in years after that, because to a large extent we boost the shots. Also remember that both Pfizer and Moderna are providing millions and millions and millions, tens of millions actually, of doses to countries outside of the United States, developing countries, poor countries, for free. So they are being very generous, if you will, with their philanthropy. But in spite of that, we're going to have $2 billion or more profits, maybe more than that, well into the future, because COVID is going to be with us, well into the future. Now this has of course caused the left to go basically apoplectic, and not just the left, you're seeing it on the left and on the right. Why are these companies making so much money? This is the problem. I mean you saw this from the Trumpist right and the left, the populist left and right are just freaking out, and of course the socialists are freaking out, about what the hell these companies are making a fortune. Didn't the science come from state-funded research, and they thought the state should own it all, or didn't operation warp speed? Pay them no, it turns out, and Pfizer didn't get the money from warp speed, they've refused the subsidy, as hard it is to believe for those of you, or anti big pharma. And so what's going to happen? What's going to happen to these profits? What's going to happen to these profits? Where does the money flow? Where does the money flow? Well let's take BioNTech, and BioNTech is this innovative, small, mRNA focused startup. They're in Germany, they've been in the space for many years, they've tried using mRNA for cancer, just like Moderna did, they've had some quite a few failures, of course that's in each of startups. What are they doing? Well they already today have a cash position of $900 million. What's it going to do with that $900 million? Well they just put a press release, I guess, that they plan to plow $950 million to $1.5 billion into research and development in the second half of the year. Research and development into what? We're going to put the money into. So we've got now a billion to $1.5 billion, it's a lot of money for a small BioNTech company, and what are they going to do with that? They're working on 15 candidates for cancer therapies, 15 candidates for cancer therapies. They're also going to be devoting resources to developing malaria and tuberculosis vaccines. Now just a malaria vaccine, just a malaria vaccine, has the potential of saving a million lives a year, a million lives a year in places like Africa. Now, 15 candidates for cancer therapies. I mean, again, cancer is not just brutal in the number of people it kills, but in the way it kills them, it's slow, painful, horrible death. If you've had somebody dying your family from cancer, you know how awful and horrible and disruptive it is. Imagine if any one of those 15 candidates actually results in actually successful. They're also investing heavily in increasing capacity for the vaccine because there are a lot of people in the world still that have not been vaccinated. They expect that next year they'll be able to produce 4 billion doses a year. They continue to research both BioNTech and Pfizer working on a vaccine for influenza. Wouldn't it be cool if we actually got an effective vaccine for the flu? Indeed, tens, hundreds of thousands of people die of the flu every year. I mean, the potential here is just unbelievable. This is a technology that has just proved itself as efficacious, maybe not as effective as we'd hope. Maybe we'd hope that these vaccines would last longer than six months, but they're going to learn. They're going to make them better and now they're taking the technology and applying it to a variety of other diseases. Moderna, for example, is heavily invested. They've got, not only do they have huge profits, but their stock price has gone up dramatically, which means that they can raise capital at very low cost. They're now working on vaccines for that, sorry, drugs, mRNA-based drugs to treat heart disease, cancer, rare genetic conditions, emerging viruses like Zika, and hard to get, hard to target pathogens like HIV. Now, I mean, how could anybody, how could anybody be upset that these companies are making money when they're, we'll talk about where they should be making money to begin with, but when, even on the basis of this, they could be helping the world. What could be a better use of this money from the perspective of our health in the future? Think about COVID and think about the fact that these companies developed a vaccine within a year. They developed it because they had invested in platforms, vaccine-producing platforms that never existed in the past. Well, now they've proven the platform can work. I mean, the sky's the limit in terms of what can happen. Now, there's a second benefit. This is all economic benefits. We'll get to the, we'll get to the, to the moral case in a minute. There's a second benefit from these profits. I mean, here we have Moderna and Pfizer and BioNTech making billions and billions of dollars of profit. Other companies are sitting on the sideline looking at this and going, whoa, there's a lot of money to be made in vaccines. Maybe we should get into the business. This is how markets work. They are companies all over the world now building vaccine platforms. Maybe not for COVID because maybe that market is saturated. Probably not. There's still billions of people still to be vaccinated. And as we said, COVID is going to be for a while, around for a while. I imagine if you could build a vaccine that lasted for 24 months or just gave you immunity forever, the people working on that, the market is huge. Profitability is out there, it's been proven. So companies are looking, are searching, and investing. Right now, the amount of money generated from the vaccines is higher than any other drug being sold right now in the, in the world. Now, it's not that somebody's going to try to copy Pfizer vaccine, they can't, it's patented. But look at how many companies today have vaccines without violating that patent. Lots of companies are going to enter with their own technologies and their own efforts to try to create better vaccines. Innovation is not solely driven by the profit motive. But certainly the profit motive provides some, some spurring on for innovators. So that's the whole point of the patent system is to provide innovators an opportunity to make a lot of money and therefore provides the incentive for capital providers to provide capital for innovators to produce a product and protect their property rights and innovate and grow. So we have here companies that are making a lot of money plowing their money into all kinds of research that is going to improve our health and improve our ability to combat diseases and a variety of different diseases, anywhere from cancer, heart disease to Zika and malaria. Malaria would be unbelievable if they could do that. Isn't this amazing? I'm doing a show on vaccine profits and I've already got five thumbs down, right? Because God forbid in the world in which we live today, even among people who listen to you on book show, defending vaccine profits is considered a, you know, something bad, right? Because God, if only we all took ivermectin, there would be no need for the, for the vaccines. 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