British Prime Minister Boris Johnson has said the success of the vaccination programme was because of “greed” and “capitalism”. The remarks were a reference to the profit motive driving companies to develop new products even though he praised pharmaceutical companies for their role in the pandemic.
There is no denying that Big Pharma will be one of the biggest beneficiaries during the pandemic. The supply of coronavirus vaccines has been gradually improving but the vaccine remains free either due to bilateral agreements or national health programmes. In Pakistan, the government took the drastic measure allowing the private sector to import coronavirus vaccines. This is certainly an attempt of submitting towards the all-power pharmaceutical sector in the country.
The government had allowed uncapped prices for the vaccine although the decision was revoked as the prices may get out of control. The federal cabinet has even fixed the maximum sale price of Sputnik-V Russian vaccine at Rs8,449 for two doses and Chinese vaccine at Rs4,225 per injection. But concerns have the raised that the price is exorbitantly high and allowing the private sector increases corruption.
The Transparency International has already raised alarm and written to the prime minister to review the policy of allowing the private sector to procure the vaccine. Governments around the world are giving the vaccine free of cost as it is the responsibility but Pakistan is the first country to handover the task to the profit-maximizing private sector. The global price for Sputnik-V vaccine is $10 per dose. However, the approved price for commercial sale in Pakistan is 160 percent higher. The vaccine cost 734 rupees in India and should cost Rs1,500 in Pakistan but private sector is seeking to profit by charging hefty prices.
Pakistan already has one of the lowest inoculation rates in the world and is struggling to procure more vaccines. It is certain the government has submitted to Big Pharma and is allowing them to profiteer from the pandemic. The government should reconsider its decision and reduce prices. A large portion of the public may not afford the hefty prices and will unable to receive the jabs. There should be check on price rather than allowing market forces to profit and exploit the masses during a pandemic.
