EconomyFinancial"At the cost of suffering": COVID leaves 40 new...

"At the cost of suffering": COVID leaves 40 new pharmaceutical billionaires

If there is a sector that took advantage of the pandemic, it was the pharmaceutical sector , key to dealing with COVID-19 during the more than two years that it has been in the life of the world population. The economic benefits of the health crisis in this field are reflected in the number of new millionaires left in its wake: 40 according to a study by Oxfam Intermón.

The research indicates that in addition to the pharmaceutical sector, the energy and food sectors have increased by 453,000 million dollars in the last two years. In the case of energy, 62 new billionaires emerged during the pandemic.

The work details that the wealth of millionaires increased more in the two years of the pandemic than in 1987 and 2010.

“For the billionaires, the pandemic as well as the conflict in Ukraine and the spectacular increase in food and energy prices are assuming a period of prosperity. And this reality contrasts with a clear setback in the achievements of the last decades in the fight against extreme poverty at a global level”, said Iñigo Macías, head of research at Oxfam Intermón.

The report points out that the total wealth currently accumulated by these billionaires is equivalent to 13.9% of world GDP. The contrast, according to Macías, is that while the rich are getting richer, globally the working conditions of workers have not yet recovered from the hard blow of the pandemic.

“(…) millions of people are forced to skip meals, turn off the heating, delay paying bills and wonder what else they can do to get ahead,” he adds.

Oxfam assures that this scenario turns out to benefit from the suffering of people during the health crisis:

“The pandemic, which for most of humanity has been marked by suffering and has been a huge rupture in their lives, has turned out to be one of the best moments in history for billionaires,” the study says.

“It is inconceivable that there are people who benefit from the pain and suffering of others. Some have become rich by denying universal access to vaccines in all countries. Others, by taking advantage of rising food prices and energy. Large companies distribute generous bonuses and dividends while reducing their tax contribution as much as possible. This parallel increase in wealth and poverty are two sides of the same coin,” Macías said.

Uber says goodbye to the mandatory mask and you can now use the front...

The new policies around covid-19, however, suggest users consider wearing a mask in the event of personal or family health problems and not exceeding the vehicle's capacity.

WHO says COVID-19 is still a global health emergency

Although the cases of the disease are falling in some regions, the United Nations agency asks the countries to maintain vigilance and promote the vaccination of the vulnerable population.

Moderna shares rise 17% after agreement with Merck to develop a cancer vaccine

With the market size for COVID-19 vaccines projected to shrink in the coming years, Moderna has pinned its hopes on other vaccines.

Mexico vs Covid: They reveal that Mexicans disinfected bills with Pinol, Lysol, vinegar and...

In the pandemic, Mexicans wanted to avoid the spread of covid-19 by disinfecting their bills with different cleaning products.

Denmark is breeding mink again after exterminating them all

The authorities recommended to the breeders that they will have to respect a strict model of infection prevention and control.

More