Newsweek

Pfizer, one of the world's largest pharmaceutical companies, has been accused of profiting excessively from the COVID-19 pandemic after posting record revenues in 2020. The company reported a net income of $15.6 billion for the year, an increase of nearly 50% from 2019. Critics have argued that Pfizer's profits are "exorbitant" and that the company should be doing more to help those affected by the pandemic. Pfizer has defended its pricing practices, saying that it is necessary to fund research and development of new treatments and vaccines.