Pharmaceutical Accountability Foundation

Moderna funnels billions and patents to tax havens

Research by SOMO and Wemos has shown that the EU has transferred an amount of more than 10 billion dollars to the Swiss bank account of vaccine manufacturer Moderna. In addition, the Moderna vaccine patents are also housed in another tax haven: Delaware in the United States, where royalties are untaxed.

This research shows that Moderna is making excessive profits. That is extremely precarious, since ‘their’ vaccines have been co-developed by universities. In addition, vaccine development and production is to a very large extent financially supported by government and NGO grants.

This image corresponds to our GCCP Scorecard: the Good Corona Company Practices. The Pharmaceutical Accountability Foundation (PAF) scored pharmaceutical companies on taking their reponsibilities regarding human rights and access to medicines for everyone. Indeed, Moderna does not adhere to the good practices and shows the score on the points ‘E3 Commits to non-profit or fair pricing’, ‘T1 Publishers its R&D costs’ and ‘T2 Publishers its profit margins’.

PAF has already clearly noticed, during its own research for the GCCP scorecard, that Moderna lacked providing transparancy on these issues. The SOMO/Wemos study proves that Moderna makes a huge profit, while a lot of public money has been invested in it.

Source: SOMO