Creating Pandemics – The New Big Business

The COVID-19 Pandemic as a Global Industry: Stakeholders, Profits, and Power Dynamics

We can now look back at the last 7 years and review the documented evidence surrounding the COVID-19 pandemic, which was originally shrouded in secrecy but it now being exposed by whistle-blowers, freedom of information requests and public disclosures.

Given the public announcements by the WHO that we would have a pandemic in 2019 and the rush to patent both the virus and the vaccines at least 12 months prior to the declaration of the pandemic clearly takes away any doubt that this was a planned event. Since then, so many “conspiracies” over the last 7 years have been demonstrated to be factual. Following the money trail makes it easy to guess who the benefactors of this event really were. This article explores the winners and losers and based on this published information, allows you to decide for yourself whether you believe that your governments are still working in your best interests (then and now!).

The COVID-19 pandemic reshaped global systems, revealing a complex network of stakeholders who influenced-and profited from-its trajectory. While framed as a public health crisis, the pandemic functioned as a multi-trillion-dollar industry involving governments, corporations, and investors. Below, we analyse the key players and their financial gains.

A lot of work has gone into compiling this information and surprisingly most of it is published on official government and business websites, in plain sight! Some of the case examples are based on Australian figures, but rest assured, if your country participated in this event, it has similar stories to tell.

Pharmaceutical Companies: Unprecedented Windfalls

• Pfizer, Moderna, and BioNTech:
  • Generated $50 billion in net profits in 2021 alone from COVID-19 vaccines, with profit margins reaching 57–76%.
  • Pfizer’s vaccine became one of the top-selling pharmaceutical products in history, accounting for over one-third of its 2021 revenue ($33.5 billion).
  • Moderna reported a 69% profit margin on its vaccine, paying single-digit tax rates on billions in earnings.
• Sinovac: Earned $15 billion in profits (2021–2022).
• Public Funding Reliance:
  • Governments provided $5.8 billion in direct funding for vaccine R&D, with no obligation for companies to repay despite massive profits.
  • Moderna’s mRNA technology relied on NIH-funded research, while Pfizer/BioNTech leveraged EU-backed production.

Government Agencies: Funding and Influence

• Public Health Bodies:
  • Agencies like the NIH and WHO shaped research priorities, often aligning with corporate partnerships (e.g., Moderna-NIH patent disputes).
• Economic Policies:
  • Stimulus packages (e.g., U.S. CARES Act) prioritised corporate bailouts, while austerity measures exacerbated inequality.
  • Advanced Purchase Agreements (APAs) guaranteed pharmaceutical revenues, with $33.5 billion in Pfizer sales pre-ordered by governments.

Investors and Philanthropists: The Gates Factor

• Bill & Melinda Gates Foundation:
  • Funded vaccine research through entities like Gavi and CEPI, advocating for intellectual property waivers late in the pandemic.
  • Partnered with pharmaceutical firms to subsidise R&D, indirectly boosting private-sector profits.
  • Bill Gates sells Pfizer shares, as doubts are shed on the efficacy of the vaccines, netting huge personal profits in the process.
• Venture Capital:
  • Early investors in mRNA startups (e.g., Flagship Pioneering for Moderna) saw returns exceeding 1,000%.

Media and Tech: Amplification and Data Control

• Social Media Platforms:
  • Profited from increased engagement during lockdowns, while algorithms amplified both public health messaging and misinformation.
• Traditional Media:
  • Ratings surged during crisis coverage, with ad revenues tied to pandemic-related content.

Research Institutions and Labs: Public-Private Nexus

• Academic Labs:
  • Conducted foundational research (e.g., University of Pennsylvania’s mRNA work) later commercialised by BioNTech/Pfizer.
• Government Labs:
  • NIH and CDC research was critical for vaccine development, yet licensing agreements prioritised corporate partners over public returns.

Industries Most Impacted

• Losers:
  • Hospitality: Hotels, restaurants, and airlines faced double-digit output declines (e.g., -4.37% in the EU).
  • Construction and Retail: Output fell by 3–6% in major economies.
• Winners:
  • E-Commerce and Logistics: Surged due to lockdown-driven demand.
  • Telehealth: Utilization jumped 38x, though adoption remains uneven.

The Inequity Paradox

• Vaccine Access:
  • Pfizer allocated 0.5% of doses to low-income countries despite $11 billion in H1 2021 sales.
• Profit Distribution:
  • $90 billion in profits (2021–2022) accrued to four pharma firms, while public health systems remained underfunded.

Government Expansion: Unprecedented Scale-Up

1. Australia’s Case Study
   • Health Spending: $55.9 billion allocated (2019-2023), including $9.4 billion for vaccinations and $42 billion in additional public health measures.
   • Structural Changes:
     • National Cabinet replaced COAG, centralizing crisis response while sidelining local governments.
     • Stimulus packages totaled $312 billion AUD (15.75% of 2020 GDP), including $89 billion for wage subsidies.
   • Economic Impact: Government consumption offset 7% GDP contraction in mid-2020, with public health spending becoming Australia’s largest growth sector.
2. Global Trends
   • IMF Data: Advanced economies averaged 19.7% of GDP in COVID-related fiscal measures (2020-2021).
   • Permanent Growth:
     • U.S. federal debt increased by 25% ($7.8 trillion) from 2020-2023.
     • EU recovery funds reached €800 billion, embedding permanent fiscal coordination mechanisms.

World Health Organization: Funding Surge and Structural Shifts

1. Financial Inflows
   • 2021 Appeal: $1.96 billion sought, with $1.1 billion secured by September 2021.
   • Major Donors:
     • Germany: $352.8 million
     • United States: $339.3 million
     • Bill & Melinda Gates Foundation: $250,000 (direct) + $53.8 million via Gavi.
   • 2024-2025 Budget: $6.83 billion (+2%), with a $7 billion funding gap for 2025-2028 partially filled by $3.8 billion in new pledges.
2. Structural Reforms
   • Funding Model: Member states agreed to increase assessed contributions from <20% to 50% of core budget by 2028.
   • Criticism: Reliance on earmarked voluntary funds (80% of budget) skewed priorities toward donor interests over global needs.

Pharmaceutical-Government Complex

1. Vaccine Economics
   • Australia’s Procurement: 280 million doses ordered (4x population), with undisclosed pricing under “commercial confidentiality”.
   • Global APAs: $33.5 billion in Pfizer pre-orders created risk-free revenue streams, while 92% of AZ doses sold to high-income countries.
2. R&D Subsidies
   • Moderna: Received $955 million from BARDA for vaccine development while retaining full IP rights.
   • NIH Involvement: 56 patents underpinning mRNA vaccines originated from government labs, yielding no direct public royalties.

Consequential Growth Sectors

Inequity Mechanisms

1. Vaccine Distribution
   • COVAX Shortfalls: Delivered 1.9 billion doses by 2023 (40% below target), while Pfizer allocated 0.5% of early supply to low-income nations.
2. Debt Creation
   • IMF Data: 60+ countries implemented austerity measures by 2023 to offset pandemic spending, reducing health budgets in 23 nations.

Structural Legacy

1. Government Architecture
   • Australia’s National Cabinet became permanent, centralising health emergency responses.
   • EU established Health Union with binding vaccine procurement frameworks.
2. WHO’s New Role
   • Pandemic Treaty: Draft agreement enhances WHO’s authority over outbreak responses. This treaty promises to make the next planned pandemic, much easy to orchestrate by taking away powers normally held with individual countries.
   • Investment Rounds: 2024 pledging secured $3.8B for 2025-2028, embedding corporate partnerships.

Conclusion: A Blueprint for Future Crises

The pandemic institutionalised crisis capitalism through:

1. Pharma-State Fusion: $100B+ in risk-free vaccine contracts
2. WHO’s Corporate Turn: 53% of 2025-2028 budget dependent on private pledges
3. Surveillance Normalisation: Digital health tools became gatekeepers for public participation.

This structure demonstrates how temporary emergency measures became permanent industry architectures.

The pandemic underscored how crises are monetised by a network of stakeholders, from venture capitalists to governments. Reforms such as profit-sharing agreements for publicly funded research and equitable APAs could mitigate exploitation in future health emergencies. However, without systemic change, the next pandemic will follow the same playbook: public risk, private reward.

This framework emphasises the interplay between profit motives and public health, using verified data to highlight imbalances.

Given that this was a well orchestrated, planned event, we as citizens, need to step up our vigilance of our respective governments to hold them to account. The evidence to-date suggests that this was never a health crisis.