Pfizer CEO: Company refused taxpayer money for COVID-19 vaccine development to 'liberate our scientists'
Pfizer chose not to take U.S. taxpayer money to help fund its coronavirus vaccine development, a move that CBS News' Margaret Brennan pointed out on Sunday is a bit of a financial risk for the pharmaceutical giant.
CEO Albert Bourla admitted that it will indeed "be painful" if the vaccine fails, but "at the end of the day it's only money" and the lack of taxpayer funds won't "break our company." It was more important for Bourla that his scientists were able to work without any strings attached, he said. "I wanted to liberate our scientists from any bureaucracy," he continued. "When you get money from someone, that always comes with strings. They want to see how we are growing to progress, what types of moves you are going to do. They want reports. I didn't want to have any of that."
Bourla said he gave Pfizer's team an "open checkbook" so they only have to worry about "scientific challenges." Plus, he added, he wanted to keep Pfizer out of politics, a tall task for a pharma company on any day, but especially during this pandemic.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As for the vaccine itself, Bourla said Pfizer is preparing for a situation in which they'll know if the candidate works by the end of October, adding that "I cannot say what" the Food and Drug Administration "will do" after that, but "I think it's a likely scenario" the product could receive federal approval before the end of the year. Read more at The Hill.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
Universal donor blood is 'close' to reality
Under the Radar Scientists identify 'cocktail' of enzymes that destroy harmful antigens
By Rebecca Messina, The Week UK Published
-
The week's best photos
In Pictures A well-dressed bicycle ride, a reservoir of dead fish, and more
By Anahi Valenzuela, The Week US Published
-
What is a home energy audit and when is it worth getting one?
The Explainer This evaluation of your home's efficiency can pinpoint where exactly it's wasting energy
By Becca Stanek, The Week US Published
-
Texas dairy worker gets bird flu from infected cow
Speed Read The virus has been spreading among cattle in Texas, Kansas, Michigan and New Mexico
By Peter Weber, The Week US Published
-
Dengue hits the Americas hard and early
Speed Read Puerto Rico has declared an epidemic as dengue cases surge
By Peter Weber, The Week US Published
-
US bans final type of asbestos
Speed Read Exposure to asbestos causes about 40,000 deaths in the U.S. each year
By Peter Weber, The Week US Published
-
Seattle Children's Hospital sues Texas over 'sham' demand for transgender medical records
Speed Read Texas Attorney General Ken Paxton subpoenaed records of any Texan who received gender-affirming care at the Washington hospital
By Peter Weber, The Week US Published
-
Afghanistan has a growing female suicide problem
Speed Read The Taliban has steadily whittled away women's and girls' rights in Afghanistan over the past 2 years, prompting a surge in depression and suicide
By Peter Weber, The Week US Published
-
US life expectancy rose in 2022 but not to pre-pandemic levels
Speed Read Life expectancy is slowly crawling back up
By Devika Rao, The Week US Published
-
Vallance diaries: Boris Johnson 'bamboozled' by Covid science
Speed Read Then PM struggled to get his head around key terms and stats, chief scientific advisor claims
By The Week UK Published
-
An increasing number of dog owners are 'vaccine hesitant' about rabies
Speed Read A new survey points to canine vaccine hesitancy
By Devika Rao, The Week US Published