Tom Paine 1949
Diamond Member
- Mar 15, 2020
- 5,407
- 4,509
- 1,938
Everyone wants safe and effective publicly available vaccines & treatments for Covid-19. Where has the $$$ from Trump’s “Operation Warp Speed” actually gone? Here is what is known about the contracts for the anti-body cocktail “Regeneron” that Trump took and praised, according to one investigative article:
Regeneron’s federally funded Covid-19 treatment, which was used to treat Donald Trump, will likely be unavailable to most patients.
THE DEVELOPMENT OF the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment....
The January contract, of which only a heavily redacted version has been been made public, expanded upon an existing $284 million agreement Regeneron had.... Both agreements lack a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” Since then, Regeneron has entered into yet another shadowy agreement with the federal government that lacks the standard oversight to which federal contracts are usually subjected.... Both Public Citizen and Knowledge Ecology International are suing the Department of Health and Human Services seeking the unredacted contracts with pharmaceutical corporations for coronavirus-related products through Operation Warp Speed.
[Regeneron’s chief officer] Dr. Schleifer has an estimated net worth of $2.4 billion, was the highest paid pharmaceutical executive in the U.S. during 2018 and 2019 ... Schleifer ... has been known to golf with the president at his private Westchester club in New York. Regeneron co-founder and chief scientific officer Yancopoulis was the second most highly paid pharmaceutical executive in those years. And in 2017, when Regeneron received its first federal funding for antibody treatments, Schleifer ranked second to Yancopoulis, who received $268 million in direct compensation — more than triple the pay any pharmaceutical company executive received that year and the most any pharmaceutical executive has made before or since....
Regeneron has committed to selling some of the antibodies to the government, which in turn is obligated to distribute them “to the American people at no cost,” according to the government’s July 6 agreement, that deal applies only to “a fixed number of bulk lots.” After that, the pricing is up to the company...
Trump Sets Up Pharma Billionaires for Coronavirus Payday
Regeneron’s federally funded Covid-19 treatment, which was used to treat Donald Trump, will likely be unavailable to most patients.
THE DEVELOPMENT OF the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment....
The January contract, of which only a heavily redacted version has been been made public, expanded upon an existing $284 million agreement Regeneron had.... Both agreements lack a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” Since then, Regeneron has entered into yet another shadowy agreement with the federal government that lacks the standard oversight to which federal contracts are usually subjected.... Both Public Citizen and Knowledge Ecology International are suing the Department of Health and Human Services seeking the unredacted contracts with pharmaceutical corporations for coronavirus-related products through Operation Warp Speed.
[Regeneron’s chief officer] Dr. Schleifer has an estimated net worth of $2.4 billion, was the highest paid pharmaceutical executive in the U.S. during 2018 and 2019 ... Schleifer ... has been known to golf with the president at his private Westchester club in New York. Regeneron co-founder and chief scientific officer Yancopoulis was the second most highly paid pharmaceutical executive in those years. And in 2017, when Regeneron received its first federal funding for antibody treatments, Schleifer ranked second to Yancopoulis, who received $268 million in direct compensation — more than triple the pay any pharmaceutical company executive received that year and the most any pharmaceutical executive has made before or since....
Regeneron has committed to selling some of the antibodies to the government, which in turn is obligated to distribute them “to the American people at no cost,” according to the government’s July 6 agreement, that deal applies only to “a fixed number of bulk lots.” After that, the pricing is up to the company...
Trump Sets Up Pharma Billionaires for Coronavirus Payday